Coty Inc. Announces Receipt of Unconditional Antitrust Clearance from European Commission in Connection With P&G Specialty Beauty Business Merger
26 February 2016
Coty Inc. Announces Receipt of Unconditional Antitrust Clearance from European Commission in Connection With P&G Specialty Beauty Business Merger
Coty Inc. has announced that it has received unconditional antitrust clearance from the European Commission in connection with Coty's proposed merger with The Procter & Gamble Company's fine fragrance, color cosmetics, salon professional and hair color and styling businesses.
Obtaining the European Commission approval represents an important milestone for the transaction to proceed. Coty has already received regulatory approval from the U.S., and several other required countries. Coty remains on track to complete the merger in the second half of calendar year 2016, and will provide a more detailed timeframe during its third quarter fiscal 2016 earnings announcement in early May.
