Coty announces intent to explore strategic options for its professional beauty business

Coty announces intent to explore strategic options for its professional beauty business as part of next step in its ongoing transformation.coty - company to consider divestiture of its business unit that holds brands including wella, clairol, opi and ghd.coty expects that proceeds from any potential transaction will be used to pay down debt, return excess cash directly to shareholders.coty inc - to explore strategic alternatives for professional beauty business, associated hair brands, co's brazilian operations, including a divesture​.coty inc - on completion of potential divestiture, expects to cut financial leverage with resulting pro forma target leverage ratio of about 3x net debt to ebitda.coty inc - ‍no change to medium-term guidance of operating margin of between 14% and 16% by fiscal 2023​.coty - ‍board appointed credit suisse to assist with strategic review of professional beauty business, associated hair brand, brazilian operations.coty inc - ‍anticipates strategic review process to be completed by summer 2020​.
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