South Korean beauty brand Skinfood has announced it is being put up for sale through auction, according to a report by Pulse News.
The company is working with sales advisor Ernst & Young Han Young and is inviting letters of intent until 14 March. Skinfood last month appointed Kim Chang-gwon, former CEO of Hankuk Paper Manufacturing Co. as its legal administrator to oversee the sale.
Interested parties will be able to conduct a due diligence between 18 March to 5 April, with the successful bidder being chosen by early May at the latest. The winning buyer will acquire new company shares and bonds.