Brief: Coty To Transition Gucci Beauty License To Kering For About $400 Million
07/07/2026 21:31
BRIEF-Coty To Transition Gucci Beauty License To Kering For About $400 Million 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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