Frasers Group Plc (FRAS.L), a retail and intellectual property group, on Tuesday confirmed its participation in the Formal Sale Process for cosmetics company Revolution Beauty Group PLC (REVB.L).
Frasers was responding to Revolution Beauty's announcement on Monday that confirmed recent media reports on Frasers' interest to acquire Revolution Beauty.
In a statement, Frasers said it is currently contemplated that any offer for the issued and to be issued share capital of Revolution Beauty would be all cash.
There can be no certainty regarding making an offer or about its terms, the firm noted. The company will issue a further announcement as and when it is required.
Revolution Beauty had noted that Frasers is one of a number of parties conducting due diligence as part of the formal sale process announced on May 21.
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