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SAO PAULO (Reuters) -Brazilian cosmetic maker Natura & Co on Monday said it has agreed to enter into exclusive talks with private investor Aurelius Group for a potential sale of its subsidiary The Body Shop (TBS), lifting its Sao Paulo-traded shares. The move comes after Natura announced in August that its board of directors had authorized it to search for "strategic alternatives" for TBS, including a potential sale of the business, six years after buying it from L'Oreal. Shares of the Brazilian firm rose more than 2% on the news, which also follows a deal earlier this year to sell its luxury brand Aesop to L'Oreal at an enterprise value of $2.53 billion as part of a broader organizational shakeup.
(Bloomberg) Natura & Co. climbed after the Brazilian beauty company confirmed it’s in exclusive talks with Aurelius Investment Advisory Limited for the sale of UK-based cosmetics chain The Body Shop.Most Read from BloombergIsrael Latest: Concern Mounts Over Gaza Civilians as War DeepensRussia Shuts Airport After Mob Encircles Flight From IsraelIsrael-Hamas War Escalation Puts Qatar’s Clout to the TestInnovent Drug Continues to Take Weight Off in 48 Week TrialHSBC Plans $3 Billion Buyback, CEO
Mexican experimental outfit Lorelle Meets The Obsolete hit London last week as part of their sold out UK tour and Under the Radar were there to witness it.