--L'Oreal has been chosen as the preferred candidate to acquire a 70% stake in Nanda--a South Korean online distributor of fashion and cosmetic products--in a deal estimated to be worth around 400 billion South-Korean won ($374 million), according to reports in the Korea Economic Daily which cite unnamed investment banking sources, Reuters reports.

--The acquisition is intended to strengthen L'Oreal's presence in the Chinese make-up market, Reuters reports the newspaper as saying.

Full story : https://reut.rs/2HbdRB3

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(END) Dow Jones Newswires

April 10, 2018 07:37 ET (11:37 GMT)

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