L'Oréal: signs the sale of the Body Shop.
(CercleFinance.com) - Cosmetics giant L'Oréal laconically stated this morning that after advice from its central works council, it has signed the sales contract of The Body Shop division with the Brazilian group Natura.
Natura has submitted a firm offer and exclusive negotiations were announced on 9 June. The deal gives The Body Shop an enterprise value of one billion euros, the group said.
"The completion of this sale is subject to authorisations from competition authorities, particularly in Brazil and the US and should be closed in the course of 2017," the French cosmetics giant confirmed.
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Natura has submitted a firm offer and exclusive negotiations were announced on 9 June. The deal gives The Body Shop an enterprise value of one billion euros, the group said.
"The completion of this sale is subject to authorisations from competition authorities, particularly in Brazil and the US and should be closed in the course of 2017," the French cosmetics giant confirmed.
Copyright (c) 2017 CercleFinance.com. All rights reserved.