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Coty Announces Partnership With KKR - Quick Facts

Coty Inc. (COTY) announced a strategic partnership with KKR which will provide Coty with an initial investment of $750 million through the sale of convertible preferred shares to KKR. KKR will be entitled to two seats on Coty's Board.

Also, Coty and KKR are engaged in exclusive talks to form a partnership for Wella at an enterprise value of $4.3 billion, in which KKR is expected to own 60 percent and Coty 40 percent. Upon signing of the Wella deal, Coty will issue $250 million of additional convertible preference shares to KKR with the same coupon and strike price provisions as the first $750 million tranche, resulting in incremental total proceeds of $3.3 billion.

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