MADRID, April 21 (Reuters) – U.S. cosmetics giant Estee Lauder has commissioned J.P. Morgan to structure a financing package of around 5 billion euros ($5.89 billion) for its takeover bid of Spanish firm Puig, sources told Spanish newspaper Expansion.
Last month, Puig and Estee Lauder said they were exploring a deal that would create the world’s largest premium beauty player, with brands including Tom Ford, Carolina Herrera, Rabanne, Jean Paul Gaultier, and Clinique under one roof.
Estee Lauder did not immediately reply to a Reuters’ request for comment outside of U.S. business hours.
($1 = 0.8489 euros)
(Reporting by Paolo Laudani; Editing by Sherry Jacob-Phillips)
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