Have & Be Co. Ltd. acquired by Estée Lauder Companies Inc.

Acquisition of Have & Be Co. Ltd. by Estée Lauder Companies Inc.

In some cases, we have acquired the remaining interest or a majority interest (e.g., Have & Be Co. Ltd. (i.e. Dr.Jart+) and Deciem Beauty Group Inc., respectively).

On December 18, 2019, the Company acquired the remaining 66.66 % equity interest in Have&Be Co. Ltd. (“Have & Be”), the global skin care company behind Dr.Jart+ and men’s grooming brand Do The Right Thing, for $ 1,268 million in cash. Based on the final purchase price and working capital adjustments, the Company estimated a refund receivable of $ 32 million that was outstanding as of June 30, 2020 and was received in fiscal 2021.

On December 18, 2019, the Company acquired the remaining 66.66 % equity interest in Have&Be Co. Ltd.

On December 18, 2019, the Company acquired the remaining 66.66 % equity interest in Have&Be Co. Ltd. (“Have & Be”), the global skin care company behind Dr.Jart+ and men’s grooming brand Do The Right Thing, for $ 1,268 million in cash.

Based on the final purchase price and working capital adjustments, the Company estimated a refund receivable of $ 32 million that was outstanding as of June 30, 2020 and was received in fiscal 2021.

Estée Lauder Companies Inc . (Exact name of registrant as specified in its charter)

In some cases, we have acquired the remaining interest or a majority interest (e.g., Have & Be Co. Ltd. (i.e. Dr. Jart+) and Deciem Beauty Group Inc., respectively).

On December 18, 2019, the Company acquired the remaining 66.66 % equity interest in Have&Be Co. Ltd. (“Have & Be”), the global skin care company behind Dr. Jart+ and men’s grooming brand Do The Right Thing, for $ 1,268 million in cash.

On December 18, 2019

The Company originally acquired a minority interest in Have & Be in December 2015, and that investment structure included a formula-based call option for the remaining equity interest.

In November 2019, the Company completed a public offering of $ 500 million aggregate principal amount of its 2024 Senior Notes, $ 650 million aggregate principal amount of its 2029 Senior Notes and $ 650 million aggregate principal amount of its 2049 Senior Notes. The Company used proceeds from this offering for general corporate purposes, including to fund the acquisition of Have&Be and refinance its $ 500 million aggregate principal amount of 1.80 % Senior Notes that became due February 7, 2020.

Estée Lauder Companies Inc . (Exact name of registrant as specified in its charter)

Acquisition of Have & Be Co. Ltd. by Estée Lauder Companies Inc.