P&G will merge the 43 brands into Coty through a complex deal referred to as a 'Reverse Morris Trust' structure, in which the FMCG firm will spin off the operations into a new entity. P&G’s shareholders will own a majority stake in the new organisation.
Depending on the final value of the transaction, P&G estimates a one-off gain of $5bn to $7bn from the deal.
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