Ten P&G fragrance licenses will transfer to Coty upon regulatory approval and completion of the merger transaction. Fragrance licenses will include: Hugo Boss, Gucci, Lacoste, Bruno Banani, Escada, Mexx, James Bond, Gabriela Sabatini, Stella McCartney and Alexander McQueen.
The licensors of the Dolce & Gabbana and Christina Aguilera Perfumes did not provide consent within the specified timetable. The transaction agreement states the assumed debt from the P&G Specialty Beauty Business will be adjusted downward to reflect the fact that 10 out of the 12 available licenses, subject to regulatory approval, are transferred.
Coty anticipates the closure of the transaction in the second half of 2016.