Coty Confirms Transfer of P&G Fragrance Licenses


Coty confirmed today that ten P&G 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 did not provide consent with the specified timetable, and it was agreed that these brands will not transfer upon the completion of the merger.

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                    P&G Brands Acquired by Coty

The transaction agreement states 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. COTY anticipates the closure of the transaction in the second half of 2016.

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