Natura & Co Holding (NTCOY) has released an update.
Natura &Co, the parent company of the Avon beauty brand, has announced its support for the voluntary Chapter 11 reorganization of its subsidiary, Avon Products, Inc. in the U.S. The company is the largest creditor and believes in Avon’s potential, committing $43 million in financing and a $125 million bid to acquire Avon’s non-U.S. operations. The restructuring is not expected to affect Avon’s business outside the United States, where integration with Natura is progressing.
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