NEW YORK--(BUSINESS WIRE)--Jan. 12, 2016--
Coty
Inc. (NYSE:COTY) today confirmed that ten Procter & Gamble fragrance
licenses will transfer to Coty upon regulatory approval and completion
of the merger transaction, including Hugo Boss, Gucci, Lacoste, Bruno
Banani, Escada, Mexx, James Bond, Gabriela Sabatini, Stella McCartney,
and Alexander McQueen. The licensors of the Dolce & Gabbana and
Christina Aguilera Perfumes licenses did not provide their consent
within the specified timetable, and in accordance with the transaction
agreement and in the interest of staying on track with the transaction,
it was agreed that these brands will not transfer upon completion of the
merger.
As per the transaction agreement, the assumed debt from the P&G
Specialty Beauty Business will be adjusted downward to reflect the fact
that ten out of the twelve available licenses, subject to regulatory
approval, are transferred rather than all twelve. This downward debt
adjustment will be based using specific and contractually pre-agreed
formulas. The outcome of these formulas will be known at a later date,
which Coty will disclose once determined.
Coty continues to anticipate a closure of the transaction in the second
half of calendar 2016.
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
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 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.
For Coty Inc.
Investor Relations
Kevin
Monaco, + 1-212-389-6815
or
Media
Jessica Baltera,
+ 1-212-389-7584
or
Jennifer Friedman, + 1-212-389-7175