Coty (COTY) Misses Q3 EPS by 7c, Announces Strategic Transaction with KKR

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Coty Announces Strategic Partnership with KKR; Reports 3Q Fiscal Results

May 11, 2020 6:30 AM EDT

Coty to receive immediate $750 million convertible preferred equity investment from KKR

Coty and KKR sign a Memorandum of Understanding for KKR to acquire a majority stake in Cotys Professional Beauty and Retail Hair Businesses; Transaction could result in additional cash proceeds of approximately $3 billion

Coty reports 3Q fiscal results with revenues in line with previous market guidance and announces plans to reduce fixed costs by $700 million

NEW YORK--(BUSINESS WIRE)-- Coty Inc. (NYSE: COTY) (Coty or the Company) today announced a... More