Brazil’s antitrust regulator Cade on Wednesday recommended the approval of the sale of Natura & Co’s Aesop brand to French cosmetics company L’Oréal, according to the country’s daily gazette.
Last month, L’Oréal agreed to buy Australian luxury brand Aesop from Natura for an enterprise value of $2.53 billion.
Under the regulator’s rules, the approval is considered definitive within 15 calendar days of its publication, if no appeals are filed.
By Andre Romani; Editor Emelia Sithole-Matarise
Learn more:
Why L’Oréal Paid $2.5 Billion for Aesop
The internet’s most memed skincare line, beloved by both insiders and strivers, gives the conglomerate a chance to reconstruct its luxury portfolio.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Fashion News Click Here
