RTTNews | Feb 23, 2021 06:58AM EST

06:58 Tuesday, February 23, 2021 (RTTNews.com) - The Este Lauder Companies Inc. (EL) has agreed to increase its investment in the Canadian-based multi-brand company, DECIEM Beauty Group, from approximately 29% to approximately 76%. Also, the company has agreed to purchase the remaining interests after a three-year period.

The amount to be paid by Este Lauder at closing is approximately $1.0 billion, reflecting a total enterprise value of approximately $2.2 billion for the first phase. Upon closing the first phase, Este Lauder expects to have a non-cash gain on its initial investment. Este Lauder noted that, excluding this gain, DECIEM's net sales and earnings are expected to have a negligible impact on the company's fiscal 2021 results.

Read the original article on RTTNews ( https://www.rttnews.com/3171925/este-lauder-to-increase-investment-in-deciem-quick-facts.aspx)

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