This paper is devoted to the matematical analysis of a kinetic equation des
cribing the process of droplet; coalescence in a spatially homogeneous spra
y. In the first part, existence of a positive measure valued solution is pr
oved, under very general assumptions on the collision kernel. In the second
part, mass conservation and momentum preservation, as well as uniqueness a
nd continuous dependence is established, under some more restrictive - but
physically reasonable - assumptions on the model. Lastly, the time-asymptot
ic behavior of the solution is studied.