L’Oreal SA’s acquisition of all issued shares of Magic Holdings International Limited (“Magic”, 1633.HK) officially became effective at 4 pm on April 9, 2014. At the same time, Magic delisted its shares from main board of Hong Kong Stock Exchange. The acquisition priced at HKD 6.30 per share and L’Oreal SA paid HKD 6.5387 billion in total. This move marked L’Oreal SA’s biggest investment to-date in the Chinese beauty market and the biggest acquisition of China's domestic cosmetics brand by foreign investors.

Magic is a company specialized in producing cosmetics facial masks  and listed on main board of Hong Kong Stock Exchange on September 24, 2010.

Jingtian & Gongcheng acted as the acquiree’s PRC legal counsel all through the process and assisted the acquiree in the anti-monopoly reporting of concentrations of undertakings.