Coty Inc - Ordinary Shares - Class A

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Coty Agrees To Sell Partial Stake In Wella To KKR At 50% Valuation Premium Versus Initial Wella Sale In Exchange For About Half Of Preferred Coty Shares Owned By KKR

Published: 10/01/2021 10:47 GMT
Coty Inc - Ordinary Shares - Class A (COTY) - Press Release - Coty Agrees to Sell Partial Stake in Wella to Kkr at a 50% Valuation Premium Versus Initial Wella Sale in Exchange for Approximately Half of the Preferred Coty Shares Owned by Kkr.
Coty Agrees to Sell Partial Stake in Wella to Kkr at a 50% Valuation Premium Versus Initial Wella Sale in Exchange for Approximately Half of the Preferred Coty Shares Owned by Kkr.
Coty Inc - Transaction Further Simplifies Coty's Capital Structure by Reducing Kkr's As-converted Ownership of Coty to 5.2%.
Coty Inc - Coty Will Continue to Own 30.6% of Wella, With a $1.38b Implied Value for Retained Stake.
Coty Inc - Kkr Will Reduce Its Ownership to Equivalent of About 45 Million Coty Class A Shares, Representing an Approximate 5.2% Stake in Coty.
Coty Inc - Implied Value of Coty's Remaining Approximate 30.6% Stake in Wella is Approximately $1.38 Billion.
Coty Inc - Transaction Will Simplify Coty's Capital Structure and Result in an Additional Approximately $26 Million in Annual Dividend Cash Savings.
Coty Inc - Transaction is Expected to Close in Q2 of Coty's FY22.
Coty Inc - Deal Will Have Additional Accretive Benefits to Coty Through Reduction of Its Diluted Share Count.