TheNewsRoom | Cosmetics News: Avon Sells Japan Stake, Estee Lauder Upgraded

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Cosmetics News: Avon Sells Japan Stake, Estee Lauder Upgraded

November 08, 2010

Avon Products (AVP) said today it had agreed to sell its 74.67% ownership interest in Avon Japan to an affiliate of private equity firm TPG Capital. TPG Capital is paying 7.3 billion yen, or about $90 million, for the stake in the business and for pre-paid royalties for certain intellectual property licenses.