Arab Today, arab today pg to spin off beauty brands to coty in 125bn deal
Last Updated : GMT 16:24:37
Arab Today, arab today
Arab Today, arab today

P&G to spin off beauty brands to Coty in $12.5bn deal

Arab Today, arab today

Arab Today, arab today P&G to spin off beauty brands to Coty in $12.5bn deal

Procter & Gamble
New York - AFP

Procter & Gamble plans to sell 43 beauty and fragrance brands to Coty in a deal valuing the assets at about $12.5 billion, the companies announced Thursday.

The transaction includes well-known brands such as hair dyes Nice & Easy and Miss Clairol, and Hugo Boss and Gucci fragrances.

The consumer products giant said the spin-off was part of its strategy to streamline its secondary brands in order to better promote best-sellers like Gillette razors and Head & Shoulders shampoo.

"This represents a significant step forward in the work to focus our portfolio on 10 categories and 65 brands that best leverage P&G's core competencies," said chief executive AG Lafley.

Complete details of the deal are not settled, but P&G hopes to structure it as a "Reverse Morris Trust" in which, to minimize taxes involved in the sale, Coty would take over the brands and P&G shareholders would have the option to exchange some of their P&G shares for Coty shares.

P&G said the deal will result in a one-time gain of $5-$7 billion.

The transaction will be a game-changer for Coty, which in 2014 had revenues of $4.6 billion. The combined company will have revenues of more than $10 billion, it said.

"With the Beauty talent from both sides and the fantastic portfolio of world-class brands, we have the opportunity to create a highly focused, pure-play leader and challenger in Beauty which can deliver exciting opportunities and benefits for employees, licensors, customers and suppliers," said Coty chief executive Bart Becht.

At mid-morning, Coty shares fell 5.6 percent to $29.77, while Dow member P&G rose 0.1 percent to $81.04.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today pg to spin off beauty brands to coty in 125bn deal Arab Today, arab today pg to spin off beauty brands to coty in 125bn deal

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today pg to spin off beauty brands to coty in 125bn deal Arab Today, arab today pg to spin off beauty brands to coty in 125bn deal

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday