Valeant to sell its Obagi skin-care business for US$190 million to H.K. group

By: financialpost.com 9 months ago
Valeant to sell its Obagi skin-care business for US$190 million to H.K. group

LAVAL, Que. — Valeant Pharmaceuticals International, Inc. (TSX:VRX) has a deal to sell its Obagi skin care business to a Hong Kong-based group for US$190 million in cash. The Quebec-based company, headquartered in Laval, estimates its Obagi Medical Products unit will generate about US$85 million of revenue in 2017. The buyer is a fund managed […]

News Valeant to sell its Obagi skin-care business for US$190 million to H.K. group

About Valeant to sell its Obagi skin-care business for US$190 million to H.K. group

Online Valeant to sell its Obagi skin-care business for US$190 million to H.K. group
How Valeant to sell its Obagi skin-care business for US$190 million to H.K. group

LAVAL, Que. — Valeant Pharmaceuticals International, Inc. (TSX:VRX) has a deal to sell its Obagi skin care business to a Hong Kong-based group for US$190 million in cash.

The Quebec-based company, headquartered in Laval, estimates its Obagi Medical Products unit will generate about US$85 million of revenue in 2017.

The buyer is a fund managed by a limited partnership that includes China Regenerative Medicine International and Haitong International Securities Group, both headquartered in Hong Kong.

ValeantsellObagiskin-carebusinessUS$190millionH.K.group