Avon Stops Trading On NYSE After Merger

(RTTNews) - Shares of Avon Products, Inc. (AVP) that hit 52-week high of $5.92 on Friday stopped trading on the NYSE followed by its merger with Natura & Co.

Avon, a direct marketer of beauty products, jewelry, accessories, and clothing has been acquired by Brazilian cosmetics group Natura & Co. and the deal was closed on January 3, 2020. Under the terms of the deal Natura will hold 76% of the combined business with more than $10 billion annual revenue.

The Sao Paolo company, listed on B3, expects its American depositary receipts to begin trading on the New York Stock Exchange today, January 6. Avon shareholders will have the option to receive ADRs traded on the NYSE or shares listed on B3.

The two companies expect the annual synergies target for the combined company in the range of $150 million to $250 million.