Brazil Cosmetics Firm Natura Agrees To Buy Avon Products

FILE PHOTO: The Avon Products headquarters is seen in midtown Manhattan area of New York, June 21, 2013. REUTERS/Brendan McDermid/File Photo

SAO PAULO (Reuters) - Brazil’s Natura SA said on Wednesday it has reached an agreement to buy U.S. rival Avon Products Inc in an all-stock deal, creating the world’s fourth-largest cosmetics company.

Under the terms of the agreement, Natura shareholders will hold 76% of the combined company with annual revenue over $10 billion, according to a securities filing.

The deal is expected to generate annual cost savings of $150 million to $250 million, Natura added.

Reporting by Gabriela Mello; Editing by Sandra Maler

Source : https://www.reuters.com/article/us-avon-prdcts-m-a-natura-cosmetic-terms-idUSKCN1SS2V7

Brazil cosmetics firm Natura agrees to buy Avon Products
Brazil cosmetics firm Natura agrees to buy Avon Products
Natura agrees to buy Avon, creating cosmetics powerhouse
Natura agrees to buy Avon, creating cosmetics powerhouse