GIC to acquire a 9% stake in Intercos.

GIC, a sovereign wealth fund, agreed to acquire a 9% stake in Intercos, a developer, manufacturer and supplier of makeup and skincare products. The entry of the fund was also agreed with the funds that already hold minority stakes in the company: L-Catterton and Ontario Teachers Pension Plan. Financial terms were not disclosed. The sale of the minority strengthens the Intercos shareholding structure to support its development plans, Intercosespecially on the important Asian market. The entry of GIC does not change the Intercos Stock Exchange listing project.