Huda Beauty eyes sale of its perfume unit Kayali: Dubai-based cosmetics player Huda Beauty is exploring a potential sale of all or part of its growing perfume division, Kayali, Bloomberg reports, citing people it says are familiar with the matter. The company has enlisted Goldman Sachs as an adviser, with a sale potentially allowing the fragrance and beauty brands to grow independently.

Sale proceeds could fund minority stake buyout: Proceeds from the sale could help Huda Beauty's founders buy out US-based TSG Consumer Partners, a private equity firm that has held a minority stake since 2017.

Nothing set in stone: Discussions are in early stages, and plans for the fragrance unit may change, sources said.

About Huda Beauty and Kayali: Launched in 2013 by Huda Kattan and her sisters Mona and Alia, Huda Beauty has grown into a powerhouse with a valuation of over USD 1 bn. Kayali, helmed by Mona Kattan, features about two dozen fragrances available at major retailers such as Sephora and Walgreens.

Zooming out: A potential sale of Kayali follows a pickup in acquisitions in the beauty and cosmetics sector, including Advent International’s acquisition last year of a stake in the group behind Parfums de Marly and INITIO Parfums Privés, which has a significant presence in the Middle East.

IN OTHER M&A NEWS-

Abu Dhabi’s Mubadala Energy hits two major milestones in Andaman Sea: Abu Dhabi-based Mubadala Energy, in partnership with Harbour Energy, snagged the Central Andaman exploration license from Indonesia's MIGAS, according to a press release. Harbour Energy will hold a 60% operating stake, while Mubadala Energy will have a 40% stake

Mubadala Energy also wrapped up its South Andaman drilling campaign, marking a successful appraisal of the Layaran discovery.

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