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April 24, 2003
By: TOM BRANNA
Editor
Clayton Dubilier & Rice, a large buyout firm, was in advanced talks to sell its Jafra Cosmetics unit to Avon Products until about two weeks ago, but the deal fell apart, people familiar with the talks said on Thursday.Jafra, which announced a $275 million recapitalization on Wednesday after the talks collapsed, was set to be sold for between $350 million to $400 million, according to the sources, who requested anonymity. But Avon backed off at the last minute for unidentified strategic reas...
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