Henkel, KKR Said to Advance in Sale of $8 Billion Coty Unit (2)

Henkel AG, the German shampoo maker, and buyout firm KKR & Co. are among a small group of suitors proceeding to the second round of bidding for Coty Inc.’s professional hair and nail products business, people familiar with the matter said.

Advent International and a separate consortium of Cinven and the Abu Dhabi Investment Authority weren’t chosen to advance to the next round after they submitted initial offers last week, the people said. Private equity firms Bain Capital and Clayton Dubilier & Ricedropped out of the race, according to the people, who asked not to be identified ...