Sharecast News
23 Feb, 2021 14:56 23 Feb, 2021 14:56

Estee Lauder to raise stake in Ordinary in $1bn deal

estee lauder
Stand de Estée Lauder

Cosmetics maker Estee Lauder said on Tuesday it would raise its stake in DECIEM Beauty Group, parent of Ordinary skincare brand, to about 76% from 29% in a deal worth $1bn.

The company will pay $1bn in the first phase, which values DECIEM at $2.2bn.

However, the purchase price for Phase 2, which will see Estee take over all DECIEM, would be determined on the basis of the company's future performance, reported MarketWatch on Tuesday.

The M.A.C. brand owner said it had agreed to purchase the remaining interest in the company after a three-year period.

Transaction close was expected in the quarter ending on 30 June.

DECIEM recorded net sales of about $460m for the 12 months ended 31 January.


News Source: © 2021 Web Financial Group (UK) Limited. All rights reserved and terms of use apply.

Important Legal Notice about News Sources: Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news and we may not share the views of the author or publisher. We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

 

Important Legal Notice about News Sources

Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.