(Jan 9): Private equity firms in Asia, which are sitting on plenty of dry powder, can look to a fresh target in the world’s largest health and beauty retailer. They may get a bargain.

Temasek Holdings is considering selling part of the 25% stake it holds in A.S. Watson & Co, Vinicy Chan and Elffie Chew of Bloomberg News reported Monday, citing people with knowledge of the matter. It paid HK$44 billion (US$7.6 billion) to acquire its interest in 2014 from Hong Kong-based CK Hutchison Holdings, which remains the controlling shareholder.

It’s hardly surprising that Temasek is seeking a partial exit. When the Singapore investment firm bought its stake, CK Hutchison said it planned to list the business within three years. That hasn’t happened. More importantly, bricks-and-mortar retailers have...(click on link for full story on theedgesingapore.com)