Company News, Financial News

Coty Announces Share Buyback

Coty repurchases shares from Berkshire Hathaway.

Author Image

By: TOM BRANNA

Editor

As part of an ongoing share repurchase strategy, Coty has agreed to purchase 27,892,818 shares of Class B Common Stock owned by investment funds affiliated with Berkshire Partners (Berkshire) and Rhone (Rhone), representing all the shares of Class B Common Stock they will own on the purchase date. Coty will purchase the shares at a price of $16.7779 based upon the previous five day volume weighted average price. The total consideration for the 28 million shares will be $468 million. Pursuant to ...

Continue reading this story and get 24/7 access to Happi for FREE


Already a subscriber? Sign in

Keep Up With Our Content. Subscribe To Happi Newsletters