Forstmann, Little & Co. will settle its Revlon suit.

The company said it will be paid $20 million on Jan. 15 by Pantry Pride and Revlon to settle all claims arising from the battle to take over Revlon. Forstmann said it will keep the $4.44 million previously paid to it by Revlon. In exchange, all lawsuits will be dropped and Forstmann will terminate a merger agreement with Revlon and an option to buy Revlon’s Barnes-Hind, National Health Laboratories and Coburn subsidiaries.