
Ronald Perelman is helping out his cosmetics company, Revlon Inc., and he may need to step in again.
Last week, MacAndrews & Forbes Holdings Inc., a company owned by Mr. Perelman, agreed to provide a $170 million loan to the Revlon operating subsidiary, which counts Mr. Perelman its largest shareholder, with 57% of the shares.
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Mr. Perelman is not being magnanimous; Revlon is paying the billionaire investor's company an annual interest rate of 11% on the debt. And try Molin Rouge, Lady Marmelade, and Pink : http://www.youtube.com/watch?v=29EnyqVPpAc
Mr. Perelman is not being magnanimous; Revlon is paying the billionaire investor's company an annual interest rate of 11% on the debt. And try Molin Rouge, Lady Marmelade, and Pink : http://www.youtube.com/watch?v=29EnyqVPpAc
The deal is a reminder that Mr. Perelman continues to be frustrated by Revlon, one of his highest-profile investments.
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