On Friday, Shares of Avon Products, Inc. (NYSE:AVP), lost -1.17% to $5.90.
Avon Products, declared that it has divested Liz Earle, its wholly-owned, UK-based natural skincare brand. Walgreens Boots Alliance, the global pharmacy-led, health and wellbeing enterprise, attained the Liz Earle business for £140 million in an all-cash transaction.
“Avon remains committed to our planned priorities, and we are focused on promoting our own skincare and broader beauty portfolio. It is important to ensure all areas of the business are well-positioned to deliver near-term contributions in addition to long-term opportunity. This transaction allows Avon to realize immediate benefits while ongoing to strengthen our balance sheet,” said Avon Chief Executive Officer Sheri McCoy. “Liz Earle is the perfect fit for Walgreens Boots Alliance where it already has a strong presence in its retail stores.”
Avon Products, Inc. manufactures and markets beauty and related products worldwide. It offers beauty products, such as skincare, and personal care products, in addition to fragrances and color cosmetics; and fashion and home products comprising of jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children’s products, and nutritional products.
Shares of BlackRock, Inc. (NYSE:BLK), inclined 0.76% to $339.46, during its last trading session.
BlackRock, planned to make benchmark — and in some cases name — changes to four iShares ETFs based on an ongoing process to review its product lineup and ensure it meets the evolving needs of its clients.
Investors in the ETFs do not have to take any action and no capital gains distributions are predictable as a result of the transition.
BlackRock, Inc. is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors. It also manages accounts for corporate, public, union and industry pension plans, insurance companies, third-party mutual funds, endowments, foundations, charities, corporations, official institutions, and banks.
Finally, CIT Group Inc. (NYSE:CIT), ended its last trade with 1.29% gain, and closed at $47.72.
CIT Group Inc., declared that CIT Real Estate Finance offered a $44.7 million senior secured loan to Garrison Investment Group, a leading middle market asset-based and real estate investor. The loan is secured by a portfolio of 11 shopping centers located in Ohio and Indiana. Financing was offered by CIT Bank, the U.S. commercial bank partner of CIT. Terms of the transaction were not revealed.
“CIT has remained a strong financial partner over the past several years as we’ve built our commercial property portfolio,” said Nathan Bagnaschi, Director of Garrison Investment Group. “The properties in this portfolio are located close to major transportation arteries and have a high rate of occupancy and diversified retail tenants. CIT’s knowledge of commercial real estate enabled them to see the strength of this portfolio and to structure a flexible financing solution that met our needs. We look forward to further collaborating with CIT on future transactions.”
CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing and leasing products; and a suite of savings options in the United States. Its Transportation & International Finance segment offers leasing and financing solutions to operators and suppliers in the aviation and railcar industries.
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