L’Oréal is reported to have chosen the companies it wants to progress to the second round of The Body Shop auction, due to take place this coming June.
According to Bloomberg news, the likes of Brazilian cosmetics giant Natura Cosmetics; as well as CVC Capital Partners, Advent International Corp. and Investindustrial Advisors SpA are among the firms taken through from around 15 bidders.
Those familiar with the deal have said that bids for The Body Shop came in at more than €800 million ($AU1.16 billion) – an increase in value from when L’Oréal bought the company for £652 million ($AU945 million) more than ten years ago.
Final bidding offers are due in early June so watch this space.
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