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J&F ends talks on sale of stake in Havaianas maker over price: source

It shuns pressure from Cambuhy, Itaúsa to lower asking price for 86% Alpargatas stake

Published Mon, Jul 10, 2017 · 09:50 PM
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Sao Paulo

J&F INVESTIMENTOS SA has ended talks to sell a controlling stake in Havaianas flip flop maker Alpargatas SA to the investment firms of Brazil's most prominent banking clans because of differences over price, a person with direct knowledge of the matter said on Sunday.

According to the person, J&F shunned pressure from Cambuhy Investimentos Ltda and Itaúsa Investimentos SA to lower the asking price for an 86 per cent stake in Alpargatas as the end of an exclusivity period for talks approached on Sunday.

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