Cerberus nears deal to buy Avon’s North American business: WSJ

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Private equity firm Cerberus Capital Management LP [CBS.UL] is close to an agreement to buy Avon Products Inc’s (AVP.N) 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.

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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