SAO PAULO (Reuters) – Brazil’s antitrust regulator Cade on Wednesday recommended the approval of the sale of Natura & Co’s Aesop brand to French cosmetics company L’Oreal, according to the country’s daily gazette.
Last month, L’Oreal agreed to buy Australian luxury brand Aesop from Natura for an enterprise value of $2.53 billion.
Under the regulator’s rules, the approval is considered definitive within 15 calendar days of its publication, if no appeals are filed.
(Reporting by Andre Romani; Editing by Emelia Sithole-Matarise)