CVC Capital Partners Asia V L.P. managed by CVC Capital Partners Limited completed the acquisition of 65% stake in Personal Care business of Shiseido Company, Limited.

CVC Capital Partners Asia V L.P. managed by CVC Capital Partners Limited signed a definitive agreement to acquire 65% stake in Personal Care business of Shiseido Company, Limited (TSE:4911) for ¥160 billion on February 3, 2021. Shiseido Company, Limited will transfer the Personal Care business, which has well-known product brands such as Tsubaki and Senka face wash, to a New Company. The New Company, in which Shiseido will hold a 35% stake and CVC Asia V will acquire 65% as a joint venture. Transaction is subject to customary closing conditions (closing of each overseas country and region will be executed in stages). The transaction is expected to close by July 1, 2021. Ken Lebrun, Frank J. Azzopardi, Ronan P. Harty, Matthew Yeowart and Alon Gurfinkel of Davis Polk & Wardwell LLP acted as legal advisors to Shiseido Company, Limited in the transaction. Credit Suisse Group AG acted as financial advisor to CVC Capital Partners Limited parent of CVC Asia Pacific Ltd. Jenny Tsin, Ameera Ashraf, Tan Shao Tong, Lydia Ong and Chang Qi-Yang of WongPartnership LLP acted as legal advisor to Shiseido Company, Limited. CVC Capital Partners Asia V L.P. managed by CVC Capital Partners Limited completed the acquisition of 65% stake in Personal Care business of Shiseido Company, Limited (TSE:4911) on July 1, 2021. The part of the business operating in Japan has been transferred through absorption-type corporate splits to a newly established company Fine Today Shiseido Co., Ltd, hereafter Fine Today Shiseido. On the same date, all of the outstanding shares of Fine Today Shiseido have been transferred to Oriental Beauty Holding Company, Limited, financed by funds advised by CVC Capital Partners. Credit Suisse Capital LLC acted as financial advisor to CVC Capital Partners Limited.