TPG gets Avon Japan
TPG Capital is taking up 74.67% of Avon Japan for JPY7.3 billion ($90 million) in cash from Avon Products Inc, the NYSE-listed cosmetic direct sales empire originally founded in 1886 as the California Perfume Company.
As part of the transaction, TPG Capital is launching a tender offer in Japan for the remaining 25.33% minority stake, pricing at JPY74 ($0.9) a share, the same price that Avon has agreed on for its shares....
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