03:04 PM EST, 03/06/2024 (MT Newswires) -- Carlyle Group ( CG ) has initiated the sale of Japanese cosmetics supplier Tokiwa, aiming for an estimated $800 million valuation, Reuters reported Wednesday, citing three sources familiar with the situation.

Non-binding bids for Tokiwa are expected by mid-March from potential buyers, including private-equity firms and cosmetics industry players, Reuters said, citing the sources.

Carlyle and Tokiwa declined Reuters' request for comment, according to the report.

Neither Carlyle nor Tokiwa immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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