18 Jul 2023 --- Coty has entered into a binding letter of intent to sell a portion of its stake in German hair care and beauty brand Wella to investment firm, IGF Wealth Management. The cosmetics giant will sell a 3.6% stake in Wella for US$150 million, subject to the completion of due diligence, reflecting a 4% premium to the book value of Wella as of March 31, 2023.
