Cerberus to sell Avon North America for $125 mln

Cerberus has agreed to sell Avon North America, a social selling beauty company, to LG Household & Health Care Ltd for $125 million. According to terms of the deal, LG H&H will acquire Cerberus' majority stake in Avon North America as well as Avon Worldwide's minority stake. The deal is expected to close on September 30, 2019. Kirkland & Ellis LLP provided legal counsel to Avon North America on the transaction.

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