Live Breaking News & Updates on Blake Cassels Graydon Llp

The Estée Lauder Companies to Increase Its Ownership in DECIEM
Tuesday, February 23, 2021 5:31PM IST (12:01PM GMT)
ELC will expand its investment in the company behind fast-growing skin care brands The Ordinary and NIOD, and establish terms for full ownership in three years
 
New York, United States:
 
The Estée Lauder Companies Inc. (NYSE: EL) announced today that it has entered into an agreement to increase its investment in the Canadian-based, vertically integrated, multi-brand company, DECIEM Beauty Group Inc. (“DECIEM”) from approximately 29% to approximately 76% (the “First Phase”). The transaction is expected to close in the quarter ending June 30, 2021. The Estée Lauder Companies Inc. (“ELC”) has agreed to purchase the remaining interests after a three-year period (the “Second Phase”). ....

New York , United States , United Kingdom , Fabrizio Freda , Brandon Truaxe , Nicola Kilner , Le Labo , Stephen Kaplan , Bobbi Brown , Pasquale Cusano , Michael Kors , Abnormal Beauty Company , Hoskin Harcourt , Lauder Companies Inc , Fasken Martineau Dumoulin , Ermenegildo Zegna , Baylor Klein , Cassels Graydon , Lab Series , Beauty Group Inc , Tommy Hilfiger , Lowenstein Sandler , Lauder Companies , Business Wire , Abnormal Beauty , Prudvi Kaka ,