Coty tries regurgitation cure for indigestion

📆 10/21/2019 9:40 PM
📰 Breakingviews

⏱ Reading Time:
15 sec. here
2 min. at publisher
📊 Quality Score:
News: 9%
Publisher: 51%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Coty might sell some of the beauty brands it bought in 2015 from Procter & Gamble. That would make the firm easier to manage and reduce its debt pile. But the U-turn by the company makes its long-term strategy harder to decipher, writes rob_cyran.

Coty said on Oct. 21 it is examining strategic options, including a sale, for its Professional Beauty business, as well as its Brazilian operations. The company will use proceeds to reduce debt and return excess cash to shareholders. The unit, which includes the Wella and Clairol brands, had sales of $1.8 billion in the company’s last fiscal year.

Coty agreed to buy Procter & Gamble brands including Wella, Covergirl and Max Factor in 2015 for $12.5 billion. Earlier this year, JAB, the Luxembourg-based holding company of Germany’s Reimann family, increased its ownership stake in Coty from 40% to 60%. It paid $11.65 per share.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves midday: Coty, Boeing, HPE, Apple, IBM & moreThese are the stocks posting the largest moves midday Monday.
Source: CNBC - 🏆 12. / 72 Read more »

Coty looks to offload brands including Wella, Clairol; shares riseCoty Inc is exploring the sale of its business unit that houses hair and nail ca...
Source: Reuters - 🏆 2. / 97 Read more »

Stocks making the biggest moves midday: Coty, Boeing, HPE, Apple, IBM & moreThese are the stocks posting the largest moves midday Monday.
Source: CNBC - 🏆 12. / 72 Read more »