MacAndrews & Forbes Holdings Inc., which owns 87.2% of Revlon Inc., is exploring strategic transactions for the cosmetics company, according to a filing with the SEC on Aug. 15.
MacAndrews & Forbes disclosed that it has hired an external financial adviser to help with the process.
The news comes after Goldman Sachs Group Inc. confirmed in a Bloomberg News report that it has been hired by Revlon. The company declined to provide further details.
MacAndrews & Forbes added that there is no assurance that the exploration will result in a transaction. It said it has not formed a specific plan or proposal on the matter.