Coty Is Said to Sell Remaining 25.8% Stake in Wella to KKR

Coty Inc. is selling the remainder of its stake in Wella to KKR & Co. for $750 million and the right to a share of future proceeds from a sale or initial public offering of the haircare brand.

The beauty company, which has rights to 45% of any sale or IPO proceeds after KKR’s preferred return has been met, will use most of the upfront cash to reduce its debt, according to a document seen by Bloomberg News.

A KKR spokesperson declined to comment. A Coty spokesperson didn’t immediately respond to a request for comment outside of normal business hours. ...