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INVESTMENT IN NEW AVON
6 Months Ended
Jun. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENT IN NEW AVON INVESTMENT IN NEW AVON
In connection with the separation of the Company's North America business, which closed on March 1, 2016, the Company retained a 19.9% ownership interest in New Avon, a privately-held company that is majority-owned and managed by an affiliate of Cerberus.
Our recorded investment balance in New Avon at June 30, 2019 and December 31, 2018 was zero.
In April 2019, we signed an agreement with LG Household & Health Care Ltd. to sell our 19.9% ownership interest in New Avon.
LG Household & Health Care Ltd. will acquire all of the interests of New Avon for $125.0 in cash, of which Avon will receive $24.9 in cash for our 19.9% share. The closing is expected to occur during the third quarter of 2019.
In the second quarter of 2019 we incurred costs relating to this transaction of $1.0.