Shiseido Company, Limited (TSE:4911) is in advanced talks to sell its shampoo and affordable skincare business to CVC Capital Partners Limited for JPY 150 billion to JPY 200 billion ($1.45 billion-$1.9 billion), as the Japanese cosmetics maker shifts its focus to premium beauty products, people with knowledge of the matter said. The board of Shiseido is preparing to vote on the divestment soon, said the people, who asked not to be identified because the information isn’t public. The operations targeted for sale includes the company’s Tsubaki hair-care products and is mainly active in Japan, China and other parts of Asia. The potential deal includes some of Shiseido’s domestic and overseas operations, the people said. Negotiations are ongoing and could still be delayed or even fall apart, the people said. The company confirmed it was in discussions with CVC Capital to sell the unit, and that “no formal decisions have been made as of yet.” An external representative for CVC declined to comment.