Coty nears deal to buy P&G businesses for about $12 billion: source

June 16, 2015 12:49 AM

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Coty nears deal to buy P&G businesses for about $12 billion: source

U.S. cosmetics group Coty (COTY.N) has won auctions to acquire three businesses from Procter & Gamble Co (PG.N) for as much as $12 billion, a source familiar with the matter told Reuters.

Reuters reported last week that Henkel & Co KGaA AG (HNKG_p.DE) and Coty, both of which have personal care and cosmetics businesses, made binding offers to buy separate parts of P&G's beauty businesses.

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