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Avon Products Sells North American Operations To Cerberus Capital Management

December 17, 2015: 12:00 AM EST
Avon Products Inc. sold its North American business to Cerberus Capital Management LP. As part of the deal, Cerberus Capital Management will pay Avon $435 million and the North American operations will be formed into a separate company with another $170 million investment. According to the company, the deal will give Avon CEO Sheri McCoy the time and money needed to revamp the company’s international business operations.
Serena Ng et al, "Deal Gives Avon CEO Sheri McCoy a Chance to Revamp", The Wall Street Journal, December 17, 2015, © Dow Jones & Company, Inc.
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