Citic latest group to prepare offer for stake in the French company
The major Chinese investment group Citic is understood to be prepared to acquire a 15-20% minority interest in the French care and beauty products group Nuxe, which bases output on natural ingredients, and which is currently valued at some €250m. Two other funds, Eurazeo and Sagard, both French, are also reportedly interested. Apart from the Jabes family, the other main shareholder is Naxcap Partners with 15%. Chinese involvement would provide Nuxe with critical positioning in the burgeoning Asian market. Since the company was relaunched in 1989 by Aliza Jabes, Nuxe has seen its sales rise from €8m 2008 to €106m in 2010 and €130m last year.