08.11.2021 12:50:10

Coty To Sell Additional Stake In Wella To KKR In Deal Valued At Approx. $215.7 Mln

(RTTNews) - Coty Inc. (COTY) has agreed to sell an approximate 4.7% stake in Wella to KKR in exchange for the redemption of approximately 56% of KKR's remaining convertible preferred shares in Coty. The deal reduces Coty's total shareholding in Wella to approximately 25.9%. KKR will continue to have a 2.4% ownership stake in Coty on an as-converted basis.

Coty said the transaction will further simplify the company's capital structure and result in an additional approximately $14 million in annual dividend cash savings.

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Coty Inc (A) 6,31 -2,02% Coty Inc (A)
KKR & Co Inc. 137,32 -0,36% KKR & Co Inc.