Migros finalizes sale of Gowoonsesang to L'Oréal
Deal News | Dec 23, 2024 | Legal Community Swiss
Migros, a major Swiss cooperative, has agreed to sell its South Korean cosmetics subsidiary, Gowoonsesang, to global beauty giant L'Oréal. The transaction, facilitated by the advisory firm Walder Wyss, is pending customary regulatory approvals. Walder Wyss's team, led by partners Hans-Jakob Diem and Markus Vischer, played a crucial role in the corporate and M&A aspects of the deal. This strategic divestment by Migros represents a significant move in the global cosmetics market, enhancing L'Oréal's presence in South Korea.
Sectors
- Cosmetics and Personal Care
- Mergers and Acquisitions
- Legal Advisory
Geography
- Switzerland – Migros and Walder Wyss are based in Switzerland, making it a key geographical location in this transaction.
- South Korea – Gowoonsesang, the target company, is a South Korean entity.
Industry
- Cosmetics and Personal Care – The sale of Gowoonsesang, a cosmetics company, falls under the Cosmetics and Personal Care industry.
- Mergers and Acquisitions – The transaction of selling Gowoonsesang to L'Oréal is a part of corporate Mergers and Acquisitions activity.
- Legal Advisory – Walder Wyss's role in advising the transaction highlights the legal advisory sector's involvement.
Financials
- – No specific financial details regarding the transaction amount were disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Migros-Genossenschafts-Bund | Vendor | Company | A Swiss cooperative and the parent entity selling Gowoonsesang. |
| Gowoonsesang Cosmetics | Target | Company | A South Korean cosmetics company being sold to L'Oréal. |
| L'Oréal | Buyer | Company | A global beauty company acquiring Gowoonsesang. |
| Walder Wyss | Legal Advisor | Company | A Swiss law firm advising Migros on the transaction. |
| Hans-Jakob Diem | Partner | People | Corporate/M&A partner leading the advisory team at Walder Wyss. |
| Markus Vischer | Partner | People | Corporate/M&A partner at Walder Wyss. |
| Dario Galli | Managing Associate | People | Managing Associate involved in the deal from Walder Wyss. |
| Fabian Akeret | Senior Associate | People | Senior Associate from Walder Wyss working on the transaction. |