Consumer goods giants Unilever and Henkel and a series of buyout funds including...
One of the sources said Cinven was examining a possible joint bid for the brands.
Coty aims to complete the sale, which was announced last month, by the middle of 2020 and has hired Credit Suisse to handle discussions with prospective bidders. Bankers advising the prospective bidders estimate the portfolio could fetch 10 to 12 times its core earnings of roughly $600 million, giving it a valuation of $6 to $7 billion, the sources said.
The unit, however, has seen falling sales in the last four quarters, prompting Coty’s decision to reduce its exposure to the professional segment.
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