Chinese cosmetic manufacturer to sell 39% stake
The PRC's sovereign wealth fund China Investment Corp, an investment arm of Ping An Insurance, and Temasek Holdings, the Singaporean sovereign wealth fund, have emerged as a potential bidders for Shanghai Janhwaa United, one of the largest cosmetic manufacturers and distributors in China. Originally report by the Financial Times, the report noted that the company's 39% stake held by the government is up for grabs.
Established in 1999, Shanghai Janhwaa United has been controlled by five local companies, including Shanghai Municipality fully controlled SIIC Commodity Holdings Co., Ltd., and Shanghai Industry Investment...
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