NEW YORK (AP) -- Cosmetics company Revlon Inc. said Monday that it is selling some of its brands sold in Brazil for $104 million in cash to Brazilian consumer products company Hypermarcas SA.
The deal, which includes noncore brands including its men's hair care and shaving brand Bozzano, is expected to produce net proceeds of about $94 million.
Revlon said it expects a one-time gain of roughly $50 million from the sale in the third quarter.
Shares of the company rose 3 percent to close at $1.03 on Monday.
