Natura &Co announces R$6,207.2 million global offering to fund Avon turnaround

Natura &Co announces R$6,207.2 million global offering to fund Avon turnaround

THE WHAT? Natura &Co has announced a follow-on offering of approximately R$6,207.2 million, based on a price of R$51.13 per share.

THE DETAILS The global offering is expected to be priced on October 8 and consists of both an international offering of common shares and a concurrent offering of common shares in Brazil.

THE WHY? The owner of The Body Shop, Aesop and Avon said that it intends to use the net proceeds of this offering to support investments aimed at accelerating growth over the next three years in a sustainable and inclusive fashion, including the integration and turnaround of Avon, as well as to optimise its capital structure by speeding up deleveraging and reducing its US dollar debt.

TOP 50 BRANDS

IN CONVERSATION WITH...

OPINION

FORMULA FRIDAY

WELLNESS

FASHION

TRAVEL

PROFESSIONAL BEAUTY