Industri Kapital is preparing to sell or float Oriflame Cosmetics in a move that could value the Swedish-based make-up and skincare products group at about €1.5bn ($1.8bn). The Nordic buy-out group has mandated Merrill Lynch to help with the sale process, which is expected to continue into the first quarter of next year. IK, which owns 82 per cent of Oriflame's shares jointly with the founding Jochnick Family, would expect to generate a higher valuation from selling the business than it would from a float.