The transaction entails Cerberus investing $435 million into Avon and carving Avon's North American division into a separate entity by investing another $170 million in it. Avon sold 80.1% of its North American business to Cerberus. According to Avon?s CEO Sheri McCoy, the company will now strengthen focus on its international business from where it generates over 85% of its revenues. There will be some changes in board members, as well. Five of Avon's directors will be replaced and the company'...
Avon Finally Finds An Investor In Cerberus Capital With A $605 Million Deal
Forbes - 21 Dec 2015 20:48
The transaction entails Cerberus investing $435 million into Avon and carving Avon's North American division into a separate entity by investing another $170 million in it. Avon sold 80.1% of its North American business to Cerberus. According to Avon?s CEO Sheri McCoy, the company will now strengthen focus on its international business from where it generates over 85% of its revenues. There will be some changes in board members, as well. Five of Avon's directors will be replaced and the company'...
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