Brazilian cosmetics company Natura announced in a securities filing on Monday that it has signed a binding agreement to sell its Avon CARD business, while the company continues to explore various strategic alternatives for its Avon International operations.
The company stated that the nominal sale price for the Avon CARD business is $1, with an additional payment to be made upon transaction completion. This additional payment includes $22 million in receivables that Avon Guatemala will pay to Natura's wholly-owned subsidiary in Mexico.