Date
19 October 2017

Avon may spend US$132 mln to settle bribe probe, Bloomberg says

Avon Products Inc., the world’s largest door-to-door seller of cosmetics, said it may spend up to US$132 million to resolve criminal and civil inquiries into whether it paid bribes in China and other countries, Bloomberg News reported Friday. The New York-based company has set aside about US$89 million for potential settlements with the US Securities and Exchange Commission and Department of Justice, the report said. Potential settlements may exceed that amount by as much as $43 million, the company was quoted as saying.

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