(Corrects typo in first paragraph)
May 11 (Reuters) - Cosmetics maker Coty Inc on Monday said it had agreed to sell a majority of its professional beauty and retail hair businesses, including Wella and Clairol brands, to investment firm KKR in a deal valued at $4.3 billion.
Under the deal, the businesses will become a standalone company, with KKR acquiring a 60% stake and Coty retaining the rest.
Coty also said third-quarter sales declined 23% on a reported basis to $1.53 billion in the three months ended March 31. (Reporting by Praveen Paramasivam in Bengaluru)