Leading brand: Cheerleaders applying complimentary Silkygirl make up at a cheerleading competition. Ekuinas says ACG’s in-house brand Silkygirl continues to be one of the leading mass market colour cosmetics and fragrance players in Malaysia, Singapore and Brunei.
PETALING JAYA: Ekuiti Nasional Bhd (Ekuinas) has divested its entire 20% equity stake in Alliance Cosmetics Group (ACG) to Navis Capital Partners for a total consideration of RM61.8mil.
The private equity fund management company said in a statement that the divestment to Navis, also a co-investor in ACG, would allow Navis to continue nurturing the company to further strengthen its financial performance.
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