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Coty completes Wella sale to KKR, retains 45% stake for IPO
Coty has sold its remaining 25.8% stake in Wella to KKR for $775 million in cash. The transaction completes Coty’s 2020 restructuring plan aimed at reducing its $4 billion debt amid declining sales and profits. Coty will now focus on fragrances while retaining a 45% stake in Wella’s potential future IPO.
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