Avon Seeks To Sell Part Of Itself To External Investors

Avon Products Inc. is negotiating with private-equity firms regarding the sale of a stake in the cosmetics company. Wall Street investors reacted negatively to the news, with share of Avon dropping 9.5 percent to $4.10, about 56 percent down on the year. Avon, whose stock has lost about 90 percent of its value from a 2004 high, is in talks with Cerberus Capital Management LP and Platinum Equity LLC, which signals the cosmetics seller’s failure to find a buyer for the whole company.