Coty (COTY) Sells 4.7% Stake in Wella to KKR
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Coty Builds on Previous Transaction and Agrees to Sell Additional Partial Stake in Wella to KKR in Exchange for Approximately 56% of the Preferred Coty Shares Owned by KKR
November 8, 2021 6:30 AM ESTTransaction Further Simplifies Cotys Capital Structure and Reduces Cash Dividend
Coty Will Continue to Own 25.9% of Wella
NEW YORK--(BUSINESS WIRE)-- Coty Inc. (NYSE: COTY) ("Coty" or "the Company") today announced a definitive agreement to sell an approximate 4.7% stake in Wella to KKR in exchange for the redemption of approximately 56% of KKRs remaining convertible preferred shares in Coty. This transaction reduces Cotys total shareholding in the professional beauty company to approximately 25.9%. The structure and terms of the transaction are consistent with the... More
