Estee Lauder Cos. agreed to pay $1 billion to boost its stake in Deciem Inc., giving the Canadian skin-care company an enterprise value of $2.2 billion as the cosmetics giant moves toward a full takeover.
Estee Lauder will raise its stake in Deciem to 76% from 29% with the deal, which it expects to close in the quarter ending June 30, the New York-based company said in a statement Tuesday. Estee Lauder agreed to buy the rest of Deciem after three years.
