Coty is buying 43 beauty brands from Procter & Gamble, including Miss Clairol and Max Factor.
The deal includes P&G’s global salon professional hair care and colour, retail hair colour, cosmetics and fine fragrance businesses, and certain hair styling brands.
Reports circulated last month that Coty might buy several brands from P&G.
P&G said Thursday it puts the deal’s value at about $15 billion. That includes stock valued at about $13.1 billion and $1.9 billion in debt, but the debt could range between $1.9 billion and $3.9 billion.
P&G expects a one-time gain of about $5 billion to $7 billion.
The transaction is expected to close in the second half of 2016.
