Billionaire Mike Ashley’s Frasers Group stated on Thursday it is not going to make a proposal for struggling British cosmetics group Revolution Magnificence.
Frasers earlier this month stated it was contemplating an all-cash bid for Revolution, which put itself up on the market in Might after months of languishing gross sales.
The cosmetics vendor has a market valuation of 24.6 million kilos ($32.95 million), in line with LSEG knowledge.
British on-line vogue retailer Debenhams, which just lately rebranded itself from Boohoo, is Revolution Magnificence’s largest shareholder.
By DhanushVignesh Babu, Yamini Kalia; Editor: Mrigank Dhaniwala
Study extra:
Revolution Magnificence Places Itself Up For Sale
The British cosmetics maker introduced on Wednesday that it has launched a sale course of following an unsolicited bid for its enterprise from an unnamed purchaser.
