Cases & Deals

Three banks enter into agreements with JAB Holdings B.V. to increase JAB’s exposure to Coty Inc. by approximately $480 million

Client(s) Three banks

Jones Day represented three banks in share purchase transactions entered into with their client, JAB Holdings B.V., under a total return swap (TRS) contract. In these TRS transactions, the banks agreed to pay JAB the total return of an underlying asset, shares of Coty Inc., in exchange for receiving spread and interest payments. These transactions resulted in JAB, the existing majority holders of Coty shares, obtaining additional synthetic exposure to approximately 5% of the outstanding shares of Coty.