Spanish group Puig buys stake in Gera, say sources

SAO PAULO-the Spanish company of fashion and perfumes Puig SA agreed on Tuesday to pay about 500,000,000 dollars for a minority share in Group SA, manufacturer and retailer Granado Brazil cosmetic products seeking global expansion, said three people with direct knowledge of the agreement.
Under the terms of the agreement, part of the resources will go to the owners of Granado and the rest to the company in the form of a capital increase, said two sources, who asked not to be identified since the transaction remains private.
Reuters reported on July 14 that Puig in Barcelona and owner of brands Carolina Herrera and Jean Paul Gaultier, was in advanced negotiations to buy a slice of Granado.
It has not been possible to contact representatives of Granado. The links to the offices of Puig were not met.