OAO Concern Kalina, a large cosmetics manufacturer, announced recently that their Switzerland-based Kalina International SA signed a deal that would result in selling 100% of Dr. Scheller Cosmetics AG (a German cosmetics business) shares to Coty Inc Group. Under this agreement, Concern Kalina retains control over skin care brands Dr. Scheller and Phyto Solution as well as some immovable assets in Germany. BNP Paribas acted as the concern’s accompanying consultant in the deal.

Kalina’s General Director Alexander Petrov explained that selling the shares resulted from the company’s new strategy aimed at leaving the makeup products market and focusing on the skin care sector.

Nevertheless, the agreement still has to be approved of by the European and Russian antimonopoly authorities.