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.
15:46 Donald Trump will probably be the most ridiculed president ever14
17:49 Striking populist tone, Trump promises: ‘You will never be ignored again’14
11:05 Every president is a minority leader. Trump will be, too22
11:20 PE firm Warburg buys $121 million stake in Indian cinema operator PVR14