KKR Converts Remaining Stake in Coty (COTY) into Nearly 20M Common Shares
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Coty Further Improves Capital Structure, with KKR Converting the Remainder of Their Convertible Preferred Shares into Common
November 10, 2021 8:15 AM ESTNEW YORK--(BUSINESS WIRE)-- Coty Inc. (NYSE: COTY) ("Coty" or "the Company") today announced the sale of KKRs remaining 2.4% ownership stake in Coty, converted into approximately 20 million common shares. This transaction follows three earlier transactions over the last three months, as a result of which KKR fully exits Coty. Following the completion of the transaction, Cotys convertible preferred share balance totals approximately $146 million, or the equivalent of approximately 23 million common shares, held by Cotys Chairman of the Board Peter Harf.
The latest transaction will further simplify Cotys capital structure and... More
