Subsequent Events

6 Months Ended

Jun. 30, 2019

Subsequent Events [Abstract]

Subsequent Events

Subsequent Event

On July 11, 2019, the Company announced that it entered into a Share Purchase Agreement to acquire the Laboratoires Filorga Cosmétiques (“Filorga”) skin care business from Filorga Initiatives (the “Seller”) for an equity purchase price of €1,495.5 (approximately $1,690) in cash. The consummation of the transaction is subject only to the approval of the Austrian Federal Competition Authority, the French Competition Authority and the Federal Antimonopoly Service of the Russian Federation, as well as the absence of any governmental proceeding, order or law that would prohibit the consummation of the transaction. The transaction will be financed with a combination of debt and cash and is currently expected to close in the third quarter of 2019. At the closing of the acquisition, Colgate will acquire Filorga, including cash, debt and working capital it has accrued since January 1, 2019, and the Company will pay the Seller an amount of interest on the purchase price calculated at an annual rate of 2% in respect of the period commencing January 1, 2019 and ending on the closing date of the acquisition.