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Shiseido Co. is in advanced talks to sell its shampoo and affordable skincare business to CVC Capital Partners for ¥150 billion to ¥200 billion, as the cosmetics maker shifts its focus to premium beauty products, people with knowledge of the matter said.

The board of Shiseido is preparing to vote on the divestment soon, said the people, who asked not to be identified because the information isn’t public. The operation targeted for sale includes the company’s Tsubaki hair-care products and is mainly active in Japan, China and other parts of Asia.

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