Household products and cosmetics firm LG Household & Health Care, which is part of Korean chaebol the LG Group, will pay W420 billion ($364 million) to buy 90% of TheFaceShop from private equity firm Affinity Equity Partners and the company's chairman.
The outlay for LG Household will be W350 billion as TheFaceShop has around W70 billion of cash on its books. It will finance the deal through the sale of W300 billion of corporate bonds and W50 billion of commercial paper.Affinity currently owns 70.2% of TheFaceShop through an investment vehicle, Shepherd ...