(Reuters) -Revolution Beauty said on Monday that billionaire Mike Ashley’s Frasers Group is among several parties conducting due diligence for a potential takeover of the struggling British cosmetics company.
The branded cosmetics seller put itself up for sale in May after months of languishing sales and reaching a settlement with its co-founder and former-CEO Adam Minto, which wiped out more than 70% of the company’s value.
It currently has a market valuation of 23.1 million pounds ($31.3 million), as per LSEG data.
($1 = 0.7380 pounds)
(Reporting by Yamini Kalia and Shashwat Awasthi in Bengaluru; Editing by Sumana Nandy)
