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SAO PAULO (Reuters) -Brazilian cosmetics maker Natura &Co on Monday said its board of directors had authorized the company to search for “strategic alternatives” for its subsidiary The Body Shop, including a potential sale of the business.
The move comes after the Brazilian company in April agreed to sell its luxury brand Aesop to French cosmetics group L’Oreal at an enterprise value of $2.53 billion.
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A sale of The Body Shop – valued at some 2.5 billion reais ($511 million) – is the most likely outcome, analysts at J.P. Morgan wrote, due to the Aesop divestment and the company’s high focus on Latin America.
Shares in the company shot up more than 5% at one point in mid-morning trading as the market welcomed the news, which the J.P. Morgan analysts added was likely to happen “as it could trigger extraordinary dividends.”
Natura opted to sell…
