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...Coty said it would use the proceeds to pay down debt and for strategic investments in the business....
...Coty thinks a listing in Paris will create new liquidity and perhaps fetch a higher valuation for the stock. Yet that might not be necessary. Coty’s shares have done well on their own in the US....
...Coty is dwarfed by its French competitor, whose market capitalisation has grown to €226bn ($249bn) against Coty’s $9.9bn....
...“Biotech gives us access to rare substances that would traditionally be difficult to extract,” echoes Dr Shimei Fan, chief scientific officer at Coty....
...Companies including Norwegian Cruise Line Holdings, aerospace and defence group TransDigm, beauty products company Coty and billboard advertising business Clear Channel Outdoor have done some of the largest...
...split off China business after US pressure (FT) Magellan Midstream holders approve $18.8bn sale to ONEOK (Reuters) LSE Group chief hits back at ‘clickbait’ criticism of the City (FT) US beauty firm Coty...
...WSJ) Bank of America to pay $250mn for overdraft and credit card abuse (FT) Disney explores strategic options for India business (WSJ) Kim Kardashian in talks to buy back stake in beauty business from Coty...
...Gore-Coty said Uber had already signed up “dozens” of restaurants, including some large household-name chains....
...Coty has fallen 30 per cent this year, and Revlon has tumbled 38 per cent....
...Fixing Coty is more than a question of pride for JAB....
...Coty shares rallied 9.8 per cent to $4.59 in morning trade in New York on Monday....
...The group, which competes with US-listed Estée Lauder on high-end cosmetics and smaller player Coty on fragrances, has managed to absorb pandemic-related disruptions, such as shortages of plastic bottles...
...To right the ship, JAB turned to Mr Laubies, a consumer industry veteran who spent decades at Mars Inc....
...Coty has less exposure to beauty-obsessed Asia. The result: sales at Coty slumped 16 per cent during the December quarter. The net loss ballooned to $252.3m from $22m a year ago....
...Gore-Coty compared the funding frenzy around 10-minute grocery apps to the earlier spending spree around electric bike and scooter rental services such as Bird, Lime, Voi and Tier....
...Uber’s food delivery chief, Pierre-Dimitri Gore-Coty, compared the funding frenzy around 10-minute grocery apps to the earlier spending spree around electric bike and scooter rental services such as Bird...
...Mr Harf said the deal signed in May for private equity fund KKR to buy 60 per cent of Coty’s professional beauty division and inject $750m into Coty itself would shore up the balance sheet....
...Coty has invested in both their companies....
...Tiger Chark, a US-based boutique advisory group, also worked on the two transactions for Coty. Coty needs look no further than Gap to see how powerful a partnership with the family can be....
...If exercised, KKR will own as much as 17 per cent of Coty’s shares. Just a year ago, JAB paid $11.65 a share to take back majority control of Coty. Coty will need to continue its makeover....
...Silver Lake and Sixth Street Partners ploughed funds into hard-hit Airbnb, and KKR constructed a complex deal that won it the stake in cosmetics business Coty that it had been seeking for years....
...On June 26, it obtained a temporary restraining order against Coty and KKW in the first lawsuit, and has also requested one in the second case....
...down Coty’s heavy debts....
...Coty will pay a 9 per cent coupon to KKR under the terms of the preferred equity, which can be converted into common shares when Coty’s stock price reaches $6.24....
...We told you about how KKR harnessed both of these techniques when it purchased a majority stake in JAB-backed cosmetics maker Coty and injected it with $750m in exchange for preference shares....
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