Avon is hoping to get through the holidays, but a plan to sell the beauty supply chain has been put in place.
The Wall Street Journal has reported that Avon is in talks to sell its North American business to private equity player Cerberus Capital. Cerberus, which specializes in investing in distressed assets, also may make an investment in Avon and get seats on the board of the 130-year-old company, the newspaper said. Shares of the New York-based company, which lost $697 million in its most recent quarter, rose 5.76 percent on Friday on the North American business sale speculation, closing at $4.22.
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