Procter & Gamble starts Wella sales process

• Procter & Gamble (PG +0.4%) has started the process to take offers for its Wella haircare business, sources tell Bloomberg.
• The sale of the unit could fetch as much as $19B in one deal or several piecemeal transactions.
• Henkel (OTCPK:HENKY, OTCPK:HENOY), OTCPK:HELKF, Revlon (REV +1%), Unilever (UL -0.1%), Coty (COTY -1.2%), and Kao Corp. (OTCPK:KAOCF, OTCPK:KCRPY) are reported to be in the running.
• P&G in the midst of a large brand-shedding initiative which is expected to leave it leaner and more efficient.