L '' Oréal announces sale of The Body Shop to the Natura

The French group L''oreal announced on Tuesday an agreement for the sale of your British brand The Body Shop to the Brazilian Group Natura cosmetics, an operation valued at 1 billion euros.
"The completion of the sale is subject to approval from competition authorities, mainly in Brazil and United States, and must be completed during 2017," the French group.
The day June 9, l '' Oréal started exclusive negotiations with Natura to sell the brand The Body Shop, an operation that will create a world leader in "green cosmetics".
Natura, group founded in 1969 and has the quote on the São Paulo since 2004, is the leader in the cosmetic sector, Brazil with a turnover last year of 7.9 billion reais (2.17 billion euros).
The fusion of nature with The Body Shop would represent a set of 11.5 billion reais (3.1 billion euros), with a total of 3,200 stores, 17,000 employees and a network of 1.8 million independent sellers, according to the Brazilian group.