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KKR To Buy Controlling Stake In India's Vini Cosmetics

Global investment firm, KKR & Co. Inc. (KKR) said it is investing about $625 million to buy majority stake in Indian-based personal care and beauty products company Vini Cosmetics. The deal is expected to close in July 2021, subject to customary closing conditions.

In accordance with the deal, Vini's Founder Group - led by Darshan Patel, Chairman & Joint-Managing Director, and Dipam Patel, Joint-Managing Director - and Sequoia Capital will sell a majority stake to KKR, while they will continue to hold a significant stake in Vini.

Upon completion of the deal, Darshan Patel will continue as the Chairman of Vini's Board and Dipam Patel will be named Vice Chairman of the Board.

Also, existing investor WestBridge Capital will acquire a further stake from the Founder Group to increase its stake in Vini, which owns branded deodorants, cosmetics and toiletries such as FOGG, OSSUM and GlamUp.

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