NEW YORK, May 14 /PRNewswire/ -- The Estee Lauder Companies Inc.
(NYSE: EL) today announced that it filed a registration statement with the
Securities and Exchange Commission with respect to the public offering of
shares of Class A Common Stock by certain members of the Lauder family. In
addition, the registration statement provides for the separate offering of
shares of Class A Common Stock through an offering of hybrid equity securities
known as TRACES (Trust Automatic Common Exchange Securities). The TRACES
offering involves the formation of a trust which will issue the hybrid
securities to the public. At their three year maturity, the TRACES will be
automatically exchanged for Class A Common Stock or, with respect to a portion
of the TRACES for cash at the election of the participating members of the
Lauder family. The 9,651,515 shares of Class A Common Stock being registered
(which includes shares subject to over-allotment options to be granted to the
underwriters) represent only 10.6% of the aggregate common stock holdings of
the Lauder family. The Company is not selling any shares in the offerings.
Underwriters for the Class A Common Stock offering include Goldman, Sachs
& Co., Merrill Lynch & Co., J.P. Morgan & Co. and SBC Warburg Dillon Read Inc.
Underwriters for the TRACES offering include Goldman, Sachs & Co., Merrill
Lynch & Co. and J.P. Morgan & Co. Copies of the prospectuses may be obtained
by contacting Goldman, Sachs & Co. at 85 Broad Street, New York, New York
10004.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sales of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
The Estee Lauder Companies Inc. is one of the world's leading
manufacturers and marketers of quality skin care, makeup, fragrance and hair
care products. The Company's products are sold in over 100 countries and
territories under well-recognized brand names, including Estee Lauder,
Clinique, Aramis, Prescriptives, Origins, MAC, Bobbi Brown essentials, Tommy
Hilfiger, jane, Donna Karan Cosmetics and Aveda.
Estee Lauder press releases are available at no charge through Estee
Lauder Companies News On-Call fax service. For a menu of Estee Lauder press
releases or to retrieve a specific release, call 800-758-5804, extension
251850, or use the Internet via
http://www.prnewswire.com/cnoc/exec/menu?251850/
SOURCE The Estee Lauder Companies Inc.
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Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 251850
CONTACT:
Investors - Dennis D'Andrea, 212-572-4384, or
Media - Mary Carroll Linder, 212-572-4430, both of The Estee
Lauder Companies
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