Company News, Financial News

Coty To Sell 3.6% of Stake in Wella to IGF Wealth Management

Cash proceeds of the proposed $150 million deal will be used to pay down debt.

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By: Christine Esposito

Editor-in-Chief

Coty Inc. has entered into a binding letter of intent to sell 3.6% of its Wella stake to investment firm IGF Wealth Management. The $150 million deal is subject to the completion of due diligence. Following this transaction, which is expected to close in the next two months subject to certain closing conditions (including the approval of KKR), Coty will retain a 22.3% stake the company with an implied valuation of approximately $900 million. Coty sold the majority of its stake in Wella to ...

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