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Coty Revises Upward Cost Savings Estimates For P&G Beauty Brands Acquisition

May 3, 2016: 12:00 AM EST
Coty announced that estimated cost savings from its acquisition of Procter & Gamble's Fragrance, Color Cosmetics, and Hair Color business have been raised to $780 million per year, or 16 percent of acquired revenue, after the next four years. Also, Coty said the brands are expected to add about 660 bps to the company's operating profit margins during that period. Coty's fiscal 2015 adjusted earnings per share is expected to increase by about $0.49 to $0.54. Coty expects to spend about $1.2 billion to achieve cost savings and close the acquisition deal.
"Coty Inc. Announces Update on Transaction with P&G Beauty Brands", Coty , May 03, 2016, © COTY INC.
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