Brazil Cosmetics Giant Natura Buys Avon in All-Shares Transaction

Brazilian cosmetics giant Natura said Wednesday that it is buying Avon in an all-share transaction that will form the world’s fourth largest beauty products company.

The combined company, Natural Holding S.A. (PSE: NATU3), is expected to have annual gross revenues of more than $10 billion and be present in 100 countries, Avon and Natura said in a joint statement.

Natura shareholders will own approximately 76 percent of the combined company while Avon common shareholders will own approximately 24 percent.

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