Debt-heavy cosmetics business Coty has picked up a $750m investment from private equity major KKR as it looks to shore up its balance sheet amid losing customers to rival brands. KKR has also signed a memorandum of understanding with Coty that it will buy a stake in the company’s professional beauty and retail hair businesses, including Wella, Clairol, OPI and Ghd, at an enterprise value of $4.3bn.

— Altassets

L&L Partners advised KKR led by a transaction team of partner Damini Bhalla, managing associate Akshay Jain, and associates Kanchan Modak, Prarthna Bathija and Udyan Arya Srivastava.

US international firm Baker McKenzie advised KKR on international legal aspects.

Primary jurisdiction of deal: US

2020-06-02

Deal value: US$ 4.3 billion

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