The estÉe lauder companies inc. (nyse:el) signed an agreement to acquire remaining 66.666666% stake in have & be co., ltd.

The estÉe lauder companies inc. (nyse:el) signed an agreement to acquire remaining 66.666666% stake in have & be co., ltd. on november 18, 2019. have & be co., ltd had total enterprise value of $1.7 billion. consideration will be net of cash. the estÉe lauder companies inc. expects to fund transaction through debt. on november 19, 2019, the estÉe lauder companies inc. announced the offering and pricing of $1.8 billion aggregate principal amount of its senior notes and intends to use the net proceeds for general corporate purposes, which may include funding the acquisition and refinancing its $500 million aggregate principal amount of 1.8% senior notes due february 7, 2020. transaction is subject to regulatory approval and other customary condition. transaction is expected to close in december 2019. upon completion, the estÉe lauder companies inc expects to have a non-cash gain on its initial investment in have & be co. ltd. perella weinberg partners lp acted as financial advisor to the estÉe lauder companies inc. marita a. makinen, mary j. hildebrand, darren goodman, doreen m. edelman, michael walutes, jack sidorov, abbey e. baker, kate basmagian and manali joglekar of lowenstein sandler llp and kim & chang acted as legal advisors to the estÉe lauder companies inc. michel dyens & co. acted as financial advisors have & be co. ltd. skadden, arps, slate, meagher & flom llp and bae, kim & lee llc acted as legal advisor to have & be co. ltd.
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