LONDON, Dec 20 (Reuters) - French cosmetics giant

L'Oreal is in final talks to acquire the South Korean

skincare business Gowoonsesang Cosmetics owned by Mibelle Group,

a unit of Swiss retailer Migros, according to two sources with

knowledge of the deal.

An announcement could be made as soon as on Monday, one of

the people said.

A spokesperson for Migros said it did not comment on market

rumors. L'Oreal did not respond to multiple requests for

comment.

Mibelle acquired its stake in South Korean Gowoonsesang

Cosmetics, which sells skin care products under the Dr.G brand,

in 2018.

In February, Migros announced a strategic review for Mibelle

Group, saying it wanted to find a new owner for the business.

Mibelle produces cosmetics for its own brands, including

Dr.G, Imbue., Lee Stafford, and Mine, as well as for other

brands, according to its website.

Dr.G is the No. 1 facial care line in the Korean

dermocosmetics market, according to the Mibelle website.

Spanish investment bank Alantra was hired as adviser after

the strategic review, to look for buyers for the business, one

of the sources said.

A spokesperson for Alantra declined to comment.

Mibelle employs 1,615 people in five countries, with

revenues of 661 million Swiss francs ($739.04)in 2023, according

to its website.

($1 = 0.8944 Swiss francs)