Jack Ma invited to join bid for L'Oreal's The Body Shop

European private equity firm Investindustrial has invited the investment vehicle of Alibaba's founder Jack Ma to submit a joint bid of more than €800 million ($900 million) for L'Oreal's The Body Shop, sources familiar with the matter said on Friday, just days before a deadline for final bids.

Hong Kong-based Blue Pool Capital has been asked to team up with Investindustrial and Brazil's GP Investments, one of Latin America's largest private equity firms, in making a bid for the British-based cosmetics retailer, the sources said.

European private equity investor CVC Capital Partners is also planning to submit a rival offer ahead of a June 7 deadline for final bids.

Reuters