€1BN BODY SHOP SALE BY L’OREAL
French beauty products giant L’Oreal said yesterday it has a signed a contract to sell The Body Shop, which it has owned for over a decade, to Brazil’s Natura Cosmeticos for €1 billion. L’Oreal said in a statement that it signed the contract after getting approval from its works council. Nevertheless, “the proposed sale is subject to clearance by anti-trust authorities notably in Brazil and in the United States, and expected to close during 2017”, the statement added.
L’Oreal has agreed to sell The Body Shop.