Coty (COTY) announced a much-needed financial partnership with KKR (KKR) as struggling operating performance and elevated debt load put the company in a tough position here. Investors do not appear to be too pleased with the deal terms, so let's look into the details of the transaction.
The deal looks quite complicated and expensive for Coty, and while leverage is addressed to a great extent, the rescue package comes at a real expense to long-term shareholder potential.
A Strategic Partnership
Coty has reached a deal with KKR under which Coty will sell $750