Reuters reported a spate of private equity underwriters (PEU) bid for FANCL's Asia business:
More than 10 entities, including buyout firms Blackstone and Carlyle, have lodged bids for skincare brand FANCL's Asia business outside Japan valuing it at close to $1 billion, said people with direct knowledge of the matter.
Bain Capital, MBK Partners, Sequoia Capital and CITIC Capital are also among bidders for CMC Holdings, the sole distributor of FANCL Corp's products in Asia outside Japan, the people said, declining to be named as the information is confidential.
With its ENRICH product FANCL appears to be a good PEU fit.
Update 12-18-20: Carlyle made the first cut and remains in the bidding for FANCL
