Natura to sell Avon CARD, exploring options for Avon International

SAO PAULO (Reuters) -Brazil’s cosmetic marker Natura has entered into a binding agreement to sell Avon CARD, the company said in a securities filing on Monday, adding it continues to explore strategic alternatives for Avon International business.

Avon CARD will be sold for a nominal value of $1, with an additional payment to be made upon closing, consisting of a $22 million receivable from Avon Guatemala to Natura’s wholly owned subsidiary in Mexico, the company said.

(Reporting by Isabel Teles; Editing by Aida Pelaez-Fernandez)