Coty said on Friday, December 19, that it has sold its remaining 25.8% stake in haircare brand Wella to KKR for USD 750 million, while retaining the right to 45% of any proceeds from a future sale or initial public offering.
The owner of Rimmel and Max Factor said most of the proceeds would be used to pay down debt.
“This transaction marks a pivotal milestone for Coty – both in our transformation and in our long-running deleveraging commitment,” commented Laurent Mercier, Coty’s CFO….
Coty makes clean break from Wella in US$750 million KKR deal
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