Avon Sells Japanese Business to TPG Capital in $90M Deal

Avon Products will sell its Avon Japan business to private equity firm TPG Capital for 7.3 billion yen ($90 million) in cash. Avon currently owns 74.67% of the Japan business unit, and TPG plans to launch a tender offer in Japan for all outstanding shares of Avon Japan. Avon Japan represents less than 2% of New York-based Avon’s total sales, the company said.

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