Coty (NYSE:COTY) is set to divest its remaining holding in the haircare brand Wella, selling the stake to private equity firm KKR (NYSE:KKR) for $750 million, according to a report by Bloomberg News on Friday.
Under the terms of the transaction, Coty will also retain the right to participate in any future value creation, receiving a portion of proceeds if Wella is later sold or taken public.
Coty had previously transferred majority control of Wella to KKR, and the latest deal completes the group’s exit from the haircare business.