BRIEF-Coty To Transition Gucci Beauty License To Kering For About $400 Million

Coty Inc. Class A

Coty Inc. Class A

COTY

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July 7 (Reuters) - Coty Inc COTY.N:

  • ANNOUNCES AGREEMENT WITH KERING FOR EARLY TRANSITION OF GUCCI BEAUTY LICENSE

  • TO TRANSITION GUCCI BEAUTY LICENSE TO KERING FOR ABOUT $400 MILLION

  • TO OPERATE GUCCI BEAUTY THROUGH AT LEAST JUNE 30, 2027

  • RECEIVES $250 MILLION AT SIGNING, TO RECEIVE $150 MILLION MORE BY SEPT 30, 2027

  • ESTIMATES $30 MILLION IN CASH TAXES FOR DEAL

  • CO AND KERING RESOLVE ALL PENDING LITIGATION ON GUCCI BEAUTY LICENSE

Source text: ID:nBw4xYW0Za

Further company coverage: COTY.N


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