Wires

Coty to buy majority stake in Kylie Jenner's businesses

Nov 18 (Reuters) - Cosmetics maker Coty Inc said on Monday it would acquire a majority stake in reality TV star Kylie Jenner's make-up and skincare businesses for $600 million.

Coty will acquire a 51% ownership in the company and the deal is expected to close in the third quarter of fiscal year 2020.

Shares of Coty rose 4% on the news. (Reporting by Nivedita Balu in Bengaluru; Editing by Anil D'Silva)