Coty offers to buy Bourjois with shares
Deal will give Bourjois parent Chanel, owner of the French make-up brand, a 4.2% stake in Coty worth an estimated US$240 million
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Paris
US cosmetics group Coty said on Tuesday that it has made a binding offer to buy French make-up brand Bourjois from Chanel and give the family-owned French luxury company a stake in Coty worth an estimated US$240 million.
The deal would mean Chanel, the world's second-biggest luxury brand behind LVMH's Louis Vuitton, would get a stake in Coty of around 4.2 per cent, according to Reuters data.
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