According to Bloomberg.com, Henkel and buyout firm, KKR has joined a small group of interested parties moving on to the second round of bidding for Coty Inc’s professional hair and nail products business. The sale is part of Coty’s continuing strategic evaluation of its professional beauty business, which is assumed to be wrapped up by the end of summer 2020. Reportedly due to fetch around $7-$8 billion, the consortium of Cinven and the Abu Dhabi Investment Authority were asked to discontinue to the second round following their bid.