Unilever has agreed to buy a majority stake in cosmetics firm Carver Korea for $2.9 billion from Goldman Sachs and Bain Capital, the Seoul Economic Daily reported on Monday.

The deal to buy the 60.39 percent stake is aimed at helping Unilever make headway in China, the report said, citing unidentified investment banking sources.

Carver Korea, Bain Capital and Goldman Sachs were not immediately available for comment.

Goldman and Bain bought the stake in Carver, whose beauty product brands including flagship skincare line A.H.C., just last year.

At the time, a person familiar with the matter said the deal was worth more than 350 billion won ($310 million).