Puig Brands, S.A. announced it is in discussions with The Estée Lauder Companies Inc. regarding a potential business combination that would merge their businesses.

The Spanish beauty company disclosed the talks in a regulatory filing, stating that no final decision has been made and no agreement has been reached between the two parties.

Puig emphasized that until an agreement is reached, there can be no assurances regarding the deal or its terms. The announcement was made in accordance with European Union market abuse regulations and Spanish securities law.

The disclosure provides no additional details about the structure, timeline, or financial terms of the potential transaction under discussion.