Cerberus to Buy 80.1% Stake In Avon North America

December 17, 2015 2:46 PM

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Cerberus to Buy 80.1% Stake In Avon North America

Avon Products said on Thursday it had agreed to sell 80.1 percent of its North America business to private equity firm Cerberus Capital Management for $170 million.

New York-based Cerberus will also invest $435 million for a 16.6 percent stake in the direct-seller of cosmetics in a deal that values Avon at about $2.5 billion.

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