Brazil’s Natura enters agreement to sell Avon International

SAO PAULO (Reuters) -Brazilian cosmetic marker Natura has entered into a binding agreement to sell Avon International to an acquisition vehicle that is an affiliate of Regent, the company said in a securities filing on Thursday.

The deal does not include the Russian market, operations for Latin America and the Avon brand, it added.

Natura will receive a nominal consideration of 1.00 GBP ($1.36) at the closing of the deal. Afterwards, the cosmetic maker will get contingent payments based on the future results and certain liquidity events limited to GBP 60 million.

($1 = 0.7343 pounds)

(Reporting by Isabel Teles; Editing by Aida Pelaez-Fernandez)