Nov 18 (Reuters) - Cosmetics maker Coty Inc said on Monday it would acquire a majority stake in reality TV star Kylie Jenner’s make-up and skincare businesses for $600 million.
Coty will acquire a 51% ownership in the company and the deal is expected to close in the third quarter of fiscal year 2020.
Shares of Coty rose 4% on the news. (Reporting by Nivedita Balu in Bengaluru; Editing by Anil D’Silva)
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