Malaysia: Ekuinas divests stake in Alliance Cosmetics to Navis for $15.45m

Image taken from Ekuinas website.

Ekuiti Nasional Berhad (Ekuinas), the Malaysian government-linked private equity fund management company, has divested its entire equity interest of 20 per cent in Alliance Cosmetics Group (ACG) to local PE firm Navis Capital Partners for RM61.8 million ($15.45 million).

Undertaken jointly with Navis in 2010, ACG was Ekuinas’ maiden and first investment in the fast-moving consumer goods segment.

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