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CORRECTED-Cerberus nears deal to buy 80 pct of Avon North America unit-WSJ
December 17, 2015 / 6:28 AM / 2 years ago

CORRECTED-Cerberus nears deal to buy 80 pct of Avon North America unit-WSJ

(Corrects headline and paragraph 1 to say Cerberus is close to buying 80 pct of Avon’s North American business, not all of it)

Dec 17 (Reuters) - Private equity firm Cerberus Capital Management LP is close to an agreement to buy 80 percent of Avon Products Inc’s North American business for $170 million, the Wall Street Journal reported on Thursday.

As part of the deal, Cerberus would also invest $435 million for a nearly 17 percent stake in the parent company, the paper reported, citing people familiar with the matter. (on.wsj.com/1MinViF)

Representatives of Avon and Cerberus were not immediately available for comment outside regular U.S. business hours. (Reporting By Aurindom Mukherjee in Bengaluru; Editing by Anupama Dwivedi)

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