Coty agrees to sell $150m of its retained wella stake

New york--(business wire)--coty inc. (nyse: coty) (“coty” or “the company”), one of the world's largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care, today announced that it has entered into a binding letter of intent to sell a portion of its wella stake to investment firm, igf wealth management. coty will sell a 3.6% stake in wella for $150 million, subject to the completion of due diligence, reflecting a 4% premium to the book va.
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