SAO PAULO (Reuters) -Brazil’s cosmetic marker Natura has entered into a binding agreement to sell Avon CARD, the company said in a securities filing on Monday, adding it continues to explore strategic alternatives for Avon International business. Avon CARD will be sold for a nominal value of $1, with an additional payment to be made […]
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Natura to sell Avon CARD, exploring options for Avon International
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SAO PAULO (Reuters) -Brazil’s cosmetic marker Natura has entered into a binding agreement to sell Avon CARD, the company said in a securities filing on Monday, adding it continues to explore strategic alternatives for Avon International business.
Avon CARD will be sold for a nominal value of $1, with an additional payment to be made upon closing, consisting of a $22 million receivable from Avon Guatemala to Natura’s wholly owned subsidiary in Mexico, the company said.
(Reporting by Isabel Teles; Editing by Aida Pelaez-Fernandez)