beauty

Beauty Giant Natura Gets $1 Billion to Boost Avon Turnaround

(Bloomberg) — Cosmetics maker Natura & Co Holding SA raised 5.61 billion reais ($1 billion) in an equity sale that will help it make the most out of its purchase of Avon Products Inc.



a table with wine glasses: Bottles sit on a table at the Natura Cosmeticos SA production facility in the town of Cajamar, Sao Paulo State, Brazil, on Wednesday, June 28, 2017. British make-up seller Body Shop from L'Oreal SA has been sold to Natura Cosmeticos SA with a deal that estimates to be worth 1 billion euros ($1.1 billion).


© Bloomberg
Bottles sit on a table at the Natura Cosmeticos SA production facility in the town of Cajamar, Sao Paulo State, Brazil, on Wednesday, June 28, 2017. British make-up seller Body Shop from L’Oreal SA has been sold to Natura Cosmeticos SA with a deal that estimates to be worth 1 billion euros ($1.1 billion).

The Sao Paulo-based firm sold 121.4 million voting shares at 46.25 reais apiece, according to a filing, confirming an earlier report by Bloomberg. Stock rose as much as 1.7% in early trading Friday before paring gains.

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Natura, which is also the owner of the brands Natura, Body Shop and Aesop, will use proceeds for cutting debt

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