Maker of Havaianas flip-flops suddenly a steal amid Brazil crisis

Washington

HAVAIANAS, those colourful Brazilian flip-flops worn by the likes of Kim Kardashian and Gwyneth Paltrow, don't always come cheap. But for investors starting to warm up again to Brazil's M&A market, the company may soon look like a bargain.

As a non-core asset, the trendy sandal-maker officially known as Alpargatas SA is likely to be among the first to hit the chopping block should parent company J&F Investimentos SA need to raise quick cash after its controlling shareholders admitted to paying bribes in Brazil. It wouldn't be the first time. The company's last owner - builder Camargo Correa SA - put it up for sale less than two years ago for the exact same reason.