Chinese investment company Fosun has announced it would enter the bidding war for British cosmetics retailer The Body Shop.
The company is understood to have submitted an offer for iconic brand ahead of the Monday deadline for second round bids, according to the Financial Times.
Other Chinese investors including Renhe Pharmacy Co and Alibaba founder Jack Ma’s investment arm are also thought to be considering issuing offers for the retailer.
READ MORE: Goldman Sachs primed for The Body Shop bid
Recently, South Korean food-to-entertainment firm CJ said it was mulling over an approach, although it has not yet decided whether to make a formal bid.
Goldman Sachs, CVC, Advent and Brazillian cosmetics firm Natura have also reportedly expressed interest in the retailer, which was put on sale by L’Oréal after it bought it for £650 million in 2006.