Thursday 30 March 2023

Jab reports results of partial cash tender offer to acquire up to 150 mln shares of Coty

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LUXEMBOURG —  JAB, a global investment firm focused on long-term investing in premium consumer goods and services brands, yesterday announced the final results of the previously announced tender offer by its affiliate for up to 150 million additional shares of Coty Inc. (NYSE:COTY) Class A common stock (the “Shares”) at a price of $11.65 per share in cash.

The tender offer expired at 5:00 p.m., New York City time, on April 26, 2019.

Based on the final tabulation by Computershare Trust Company, N.A., the depositary for the tender offer, a total of 336,614,903 Shares were validly tendered pursuant to the tender offer and not properly withdrawn, resulting in a proration factor of approximately 44.56%.

JAB’s affiliate has accepted for purchase 150,000,000 Shares pursuant to the tender offer, representing approximately 20% of the outstanding Shares, at a price of $11.65 per Share, net to the seller in cash, without interest and less any applicable withholding taxes, for a total purchase price of $1,747,500,000.

Payment for Shares accepted for purchase by JAB’s affiliate will be made promptly in accordance with the terms of the tender offer. All Shares tendered in the tender offer but not accepted for purchase will be returned to the tendering stockholders.

Following the purchase of the Shares pursuant to the Offer, JAB’s affiliate will own approximately 60% of the outstanding Shares.

Innisfree M&A Incorporated (“Innisfree”) is acting as information agent for the tender offer. Requests for documents and questions regarding the tender offer may be directed to Innisfree toll free at (888) 750-5834 (for shareholders) or collect at (212) 750-5833 (for banks and brokers).

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