Moving Past Avon Bid, PE-Backed Coty Plans $1.2B IPO

Law360, New York (May 28, 2013, 2:46 PM EDT) -- Cosmetics maker Coty Inc., whose hostile chase last year for rival Avon Products Inc. came up empty, filed Tuesday for a $1.2 billion initial public offering, paving an exit for its private equity backers.

Coty, which is majority-owned by German investment conglomerate Joh. A. Benckiser, originally filed to go public the day after it withdrew its offer for Avon last May, but delayed the process after named a new CEO last fall. The company, which sells celebrity-branded fragrances from Madonna, David Beckham and others, hadn't put...
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