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February 5, 2003
By: TOM BRANNA
Editor
Revlon Inc., New York, NY, said its board approved a proposal from a firm owned by Revlon chairman Ronald Perelman to provide it with $150 million in cash to help bolster its finances. The firm, MacAndrews & Forbes, will provide Revlon with the cash through the combination of an equity rights offering and debt financing. The money will be used to help the cosmetics company fund a strategic plan as it struggles with a heavy debt load and tough competition.In addition to the $150 million inve...
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