The ailing US cosmetics group Coty of the German billionaire Reimann family joins the beauty company of social media star Kim Kardashian West. For 200 million dollars (about 178 million euros), the group, which also includes the “Wella” brand, will acquire 20 percent of “KKW Beauty”, Coty announced on Monday.
The deal valued the cosmetics line at $ 1 billion and is expected to be closed in the third quarter of 2021. The news was well received on the stock exchange. The Coty share soared in pre-exchange US business by almost 20 percent.
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