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German Billionaires Unmasked as Coty Persists in Pursuit of Avon

The German billionaires behind Coty Inc.’s $10 billion bid for Avon Products Inc., the world’s largest direct seller of cosmetics, are the heirs to a 189-year-old chemicals empire their father helped transform into one of the largest consumer-goods companies in the world.

The four adopted children of Albert Reimann -- Renate Reimann-Haas, 60, Wolfgang Reimann, 59, Stefan Reimann-Andersen, 48, and Matthias Reimann-Andersen, 47 -- each own a quarter of closely held investment company Joh. A. Benckiser SE, according to a company spokesman. The family’s combined net worth is at least $20 billion, according to data compiled by Bloomberg.