Brazil's Natura set to buy Body Shop in 1b euro deal
It will fund the acquisition through a mix of debt in local and foreign currencies: CFO Jose Lettiere
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London
NATURA Cosmeticos SA entered exclusive talks to acquire British makeup seller Body Shop from L'Oreal SA, with an offer that values the UK chain at one billion euros (S$1.5 billion).
An acquisition by Natura would represent a major expansion for the Brazilian cosmetics company, which originated as a direct-sales business like Mary Kay or Avon and expanded its retail operation with the US$70 million purchase of Australia's Aesop in 2013. The deal would give Natura new sales channels and more exposure to developed markets, though Body Shop is in "great need of a turnaround" and will require a lot of work, said Giovana Scottini, an analyst at Eleven Financial Research.
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