L’Oréal and Magic Holdings International Limited, a company listed on the Hong Kong Stock Exchange, issued earlier today a “joint announcement” confirming the approval by the Ministry of Commerce of the People’s Republic of China (MOFCOM*) to proceed with the implementation of the acquisition of Magic by L’Oréal.

L’Oréal and Magic have also confirmed that the other pre-conditions to the implementation of the transaction have been satisfied. The transaction is proposed to be implemented as a scheme of arrangement. A scheme document, providing further information about the transaction, will be dispatched to shareholders of Magic in due course. We expect the transaction to close during the second quarter of 2014.

A specialist in cosmetics facial masks, Magic’s turnover in fiscal year 2012-2013 was approximately 160 million euros (+25% in Hong Kong dollars vs. previous fiscal year). Facial masks are one of China’s beauty market’s fastest growing areas with very promising development prospects. Magic’s MG brand is one of China’s leading brands in this category.

Relying on Magic’s highly talented management and teams, L’Oréal intends to develop this Chinese brand by contributing its science based expertise, and leveraging its advanced and applied research in China and across the world.

By adding a major Chinese brand with a unique expertise to its portfolio, the Consumer Products Division will be able to further accelerate its conquest of new consumers in the strategic Chinese market.

* Ministry of Commerce of the People’s Republic of China

滬江商務(wù)英語快訊：法國美容品牌巨頭歐萊雅上周剛宣布旗下品牌卡尼爾退出中國，13日就公告稱，收購美即的消息獲得商務(wù)部批準(zhǔn)，交易或在第二季度內(nèi)完成。業(yè)內(nèi)人士稱，“中國面膜大王”美即今年的營業(yè)額或達(dá)到15億人民幣；每年超過兩位數(shù)的發(fā)展速度，以及國內(nèi)巨大的面膜市場空間，這將直接推動歐萊雅15%左右的業(yè)績增長。65.38億港元的收購價，也成為了中國日化市場上最大的一筆并購。