Unilever completes sale of prestige fragrance business to COTY
11 Jul '05
1 min read
Unilever announced the completion of the sale of its prestige fragrance business, Unilever Cosmetics International (UCI), to Coty Inc.
Unilever has received $800 million in cash, in line with the terms of the agreement announced on May 20, 2005, with the opportunity for further deferred payments contingent upon future sales.
The closing of the transaction in Austria will happen shortly upon receipt of all necessary regulatory approvals.
The sale of UCI is fully in line with Unilever's strategy to focus on its core categories.
Unilever PLC :
Unilever House
Blackfriars
London EC4P 4BQ
marketing@alchempro.com
