U.S. cosmetics maker Revlon Inc. and U.S. investment bank Morgan Stanley & Co. are expected to enter a tender for Kanebo Ltd. and Kanebo Cosmetics Inc., according to industry sources.
The two companies are expected to take part in the first of a string of tenders by the Industrial Revitalization Corp. of Japan on Monday, the sources said.
Kao Corp., a major cosmetics maker, has also told the IRCJ it will submit bids in the tenders and is likely to tie up with Goldman Sachs Group Inc., a U.S. investment bank, in making a bid, according to the sources.