Baring increases stake in Chinese retailer Magic Holdings
Baring Private Equity Asia has increased its stake in Magic Holdings, a Hong Kong-listed skincare brand. The PE firm bought 50 million shares - approximately 5% of Magic Holdings' total issued share capital - at HK$2.9 apiece for a total consideration of HK$146 million ($18 million).
The transaction comes six months after Baring acquired a 15% interest in the beauty products retailer for HK$451 million. The most recent investment was channeled through Baring Private Equity Asia...
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