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| Revlon Closes the Sale of its Worldwide Professional Products Business with CVC Capital Partners and Carlos Colomer |
NEW YORK, March 30 /PRNewswire/ -- Revlon, Inc. (NYSE: REV), Revlon announced today the closing of the sale of its Worldwide Professional Products business to The Colomer Group for $315 million before adjustments, plus $10 million in contingent consideration. This follows the signing of the definitive agreement for the sale, which was announced on February 19, 2000. Revlon intends to use approximately 60% of the net proceeds to permanently pay down debt, and the balance will be available for general corporate purposes. Revlon is a worldwide cosmetics, skin care, fragrance, and personal care products company. The Company's vision is to become the world's most dynamic leader in global beauty and skin care. A web site featuring current product and promotional information can be reached at http://www.revlon.com. Revlon brands include Revlon(R), Almay(R), Ultima II(R), Charlie(R) and Flex(R), and they are sold in approximately 175 countries and territories.SOURCE Revlon, Inc.
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Company News On-Call:
800-758-5804, ext. 110701
CONTACT:
Media - Richard Woods, 212-527-5791 or
Investor - Larry Winoker, 212-527-5230, both of Revlon
