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Coty sells last Wella shares
Cosmetics group benefits from good performance of the hair care specialist
The international cosmetics group Coty has also sold its remaining 25.8 per cent stake in Wella to the financial investor KKR Managed Capital Accounts. Coty will receive a cash payment of 750 million US dollars as well as 45 per cent of the proceeds from a resale or an IPO, the company announced. In view of Wella's good business development and market valuation, the Group expects further cash proceeds, which will also be used to repay debt. ‘We have benefited from Wella's strong growth by gradually selling our stake and strengthening Coty's financial base year after year,’ said CFO Laurent Mercier. The sale completes the programme initiated five years ago to simplify the portfolio. Further information ...
