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BRIEF-The Estée Lauder Companies To Increase Its Ownership In Deciem

Published 2021-02-23, 07:13 a/m
© Reuters.
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Feb 23 (Reuters) - Estee Lauder Companies Inc (NYSE:EL) EL.N :

* THE ESTÉE LAUDER COMPANIES TO INCREASE ITS OWNERSHIP IN DECIEM

* ESTEE LAUDER COMPANIES INC - AMOUNT TO BE PAID BY ELC AT CLOSING IS APPROXIMATELY USD $1.0 BILLION

* ESTEE LAUDER - WILL EXPAND INVESTMENT IN DECIEM , AND ESTABLISH TERMS FOR FULL OWNERSHIP IN THREE YEARS

* ESTEE LAUDER COMPANIES INC - DEAL REFLECTS TOTAL ENTERPRISE VALUE OF APPROXIMATELY USD $2.2 BILLION FOR FIRST PHASE

* ESTEE LAUDER COMPANIES INC - UPON CLOSING FIRST PHASE, ELC EXPECTS TO HAVE A NON-CASH GAIN ON ITS INITIAL INVESTMENT.

* ESTEE LAUDER COMPANIES INC - TO INCREASE ITS INVESTMENT IN DECIEM BEAUTY GROUP FROM ABOUT 29% TO ABOUT 76%

* ESTEE LAUDER COMPANIES - PURCHASE PRICE FOR REMAINING INTEREST IN SECOND PHASE WILL BE DETERMINED BASED ON FUTURE PERFORMANCE OF DECIEM

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