Private equity firm CVC Capital Partners is pursuing a sale of Japanese personal-care company FineToday Holdings, owner of the Tsubaki shampoo brand, following the postponement of its Tokyo IPO, according to a report by Reuters citing unnamed sources familiar with the matter.
FineToday had initially aimed for a market capitalisation of around JPY169bn ($1.08bn) in its October IPO, well below CVC’s internal expectations. The PE firm is now reportedly targeting a valuation of over $2bn, or roughly...
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