NEW YORK--(BUSINESS WIRE)--Feb. 16, 2016--
Coty Inc. (NYSE:COTY) announced today that it has received unconditional
antitrust clearance from the European Commission in connection with
Coty’s proposed merger with The Procter & Gamble Company’s (NYSE:PG)
fine fragrance, color cosmetics, salon professional and hair color and
styling businesses (“P&G Specialty Beauty Business”).
Obtaining the European Commission approval represents an important
milestone for the transaction to proceed. Coty has already received
regulatory approval from the U.S., and several other required countries.
Coty remains on track to complete the merger in the second half of
calendar year 2016, and will provide a more detailed timeframe during
its third quarter fiscal 2016 earnings announcement in early May.
About Coty Inc.
Coty is a leading global beauty company with net revenues of $4.4
billion for the fiscal year ended June 30, 2015. Founded in Paris in
1904, Coty is a pure play beauty company with a portfolio of well-known
fragrances, color cosmetics and skin & body care products sold in over
130 countries and territories. Coty’s product offerings include such
leading power brands as adidas, Calvin Klein, Chloé,
DAVIDOFF, Marc Jacobs, OPI, philosophy, Playboy,
Rimmel and Sally Hansen.
For additional information about Coty Inc., please visit www.coty.com.
Forward-Looking Statements
Certain statements in this
release are forward-looking statements. Actual events may differ from
the Company's current views due to risks and uncertainties. More
information about potential risks and uncertainties is included under
"Risk Factors" and "Management’s Discussion and Analysis of Financial
Condition and Results of Operations" in the Company's Annual Report on
Form 10-K for the fiscal year ended June 30, 2015 and other periodic
reports the Company may file with the Securities and Exchange
Commission from time to time. The Company assumes no responsibility to
update forward-looking statements made herein or otherwise.
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Source: Coty Inc.
Investor Relations:
Kevin Monaco, 212-389-6815
or
Corporate
Communications:
Jennifer Friedman, 212-389-7175