Avon in talks with private equity firms for stake sale

11 Sep 2015

1

The stock of Avon Products Inc rose briefly on a report that the cosmetics company was in talks to sell a stake to private-equity firms. The stock retreated later in the trading session.

Avon had been in discussions with firms such as Cerberus Capital Management and Platinum Equity, The Wall Street Journal said yesterday.

Bids for the transaction called private investment in public equity, or PIPE were due next week, according to the newspaper, which cited unidentified people familiar with the matter.

While a deal of the kind would help bolster Avon's finances, it was one of the several options the company was considering and there was no assurance that the transaction would happen, the Journal said.

In April Avon Products Inc was reported to be exploring options including potentially selling itself entirely or its struggling North American business. (See: Avon explores sale of North America business).

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