State Cosmetic Firm Put on Block

(Shanghai) – Shanghai's state asset regulator on September 7 announced the sale of its stake in Shanghai Jahwa United Co., a household chemical and cosmetic company, as part of policies to encourage state divestment in the consumer goods sector.

Jahwa's 100 percent equity is listed on the Shanghai United Assets and Equity Exchange with an asking price of 5.1 billion yuan. Requirements for prospective buyers include a total asset valuation of no less than 50 billion yuan, according to its equity sales document.