Estee Lauder to raise stake in Ordinary brand owner in $1 billion deal

(Reuters) – Cosmetics maker Estee Lauder Cos Inc said on Tuesday it would raise its stake in DECIEM Beauty Group Inc, parent of Ordinary skincare brand, to about 76% from about 29% by paying about $1 billion.

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Anil D’Silva)