Sahi cosmetics sells to cosmetics conglomerate for $1 billion
Sahi Cosmetics is the first Indonesian company to announce a sale to cosmetics giant Elcie Cosmetics for $5 billion, ending its 18-year relationship with the world’s largest cosmetics conglomerate.The deal, which is valued at $1.8 billion, includes a $500 million cash infusion from Elcies investment arm, Sia Pertamina, and the purchase of Sahi’s existing portfolio