Coty sells 4.7% share in Wella to KKR valued at US$ 15.7 million

Coty will divest 4.7% stake in Wella to KKR, a private investment firm, amounting to US$15.7 million, taking its share to 25.9%. In return, Coty will redeem 56% of KKR’s remaining convertible preferred shares. KKR will keep a 2.4% ownership share in Coty. After this deal, KKR will have 2.4% ownership share in Coty on an as-converted basis. Coty CEO Sue Y.Nabi added that the company has always been revamping its value expansion to have better sales and profits as well as simplifying the capital structure.