THE WHAT? Brazil’s competition watchdog has given L’Oréal the go-ahead to proceed with its acquisition of Aesop, according to a report published by Reuters.
THE DETAILS The French beauty giant has agreed to pay Natura &Co an enterprise value of US$2.53 billion to acquire the Australian fragrance brand. The approval will be finalized after a 15-day period should no appeals be lodged in that time.
THE WHY? Having examined the potential impact of the deal, Cade recommended the approval of the sale, presumably, a brand transferring from one beauty behemoth to another would present few grounds for objection.