Avon in talks to sell North American arm

Avon Products Inc. is in talks to sell its North American arm to Cerberus Capital Management LP, people familiar with the matter told Reuters.

The deal would provide a needed cash boost to the cosmetics maker.

Avon has a market capitalization of close to $1.6 billion and long-term debt of around $2.2 billion, the sources said. It also had $587 million in cash at the end of September.

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