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CEO Nabi calls transaction “a great step in advancing our balance sheet.”
October 1, 2021
By: Christine Esposito
Editor-in-Chief
Beauty giant Coty Inc. has signed a definitive agreement to sell an approximate 9% stake in Wella to KKR in exchange for the redemption of approximately half of KKR’s remaining convertible preferred shares in Coty, reducing its total shareholding in the professional beauty company to approximately 30.6%. The transaction reflects a 50% appreciation in Wella’s value since the closing of Coty’s 60% sale of Wella to KKR in December 2020, coinciding with the re-opening of global hair salons and ...
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