@ProcterGamble ($PG) sold 43 of its beauty brands to @COTYInc ($COTY, owns OPI, Rimmel, etc.) for ~$12.5B. Brands sold include Dolce & Gabbana and Gucci fragrances, cosmetic brand CoverGirl, and hair coloring brand Clairol. P&G shareholders will own 52% of the combined company once the deal is complete; Coty’s shareholders will own the rest (48%). The combined company is expected to have more than $10B in revenues - doubling the size of Coty and creating one of the world’s largest beauty companies. - Link

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