Morgan Stanley Private Equity Sells Stakes in Skinidea and Life & Bio
Morgan Stanley Private Equity is transferring controlling stakes in cosmetics company Skinidea and health functional food firm Life & Bio to MBK Partners in an approximately ₩300 billion deal. MS PE has signed a share sale covering its 67% stake in Skinidea and 81% stake in Life & Bio, at around 8x EBITDA. MS PE replaced management in January and is reported to have achieved more than 2x returns on Skinidea.