Coty to buy majority stake in Kylie Jenner's businesses

Credit: REUTERS/Brendan McDermid

Nov 18 (Reuters) - Cosmetics maker Coty Inc COTY.N said on Monday it would acquire a majority stake in reality TV star Kylie Jenner's make-up and skincare businesses for $600 million.

Coty will acquire a 51% ownership in the company and the deal is expected to close in the third quarter of fiscal year 2020.

Shares of Coty rose 4% on the news.

(Reporting by Nivedita Balu in Bengaluru; Editing by Anil D'Silva)

((Nivedita.Balu@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 4822/ Twitter: @niveditabalu;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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