Natura &Co Holding S.A. announced that they have received all regulatory approvals required to complete Natura &Co's acquisition of Avon Products, Inc., paving way for the closing of the transaction expected on 3 January 2020.
Creation of Pure-play Beauty Company
This move follows the approval without restrictions by the Mexican Federal Economic Competition Commission (Comisión Federal de Competencia Económica), the last remaining regulatory approval that is a condition precedent needed to conclude the deal.
The combination, announced on 22 May 2019, will result in the creation of the world's fourth-largest pure-play beauty company, grouping together Avon, Natura, The Body Shop and Aesop. The combination creates a best-in-class multi-brand and multi-channel beauty group, with direct connections to consumers on a daily basis.
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With all regulatory approvals, we are very close to completing the acquisition of Avon. We greatly look forward to welcoming Avon to our family of iconic beauty companies, starting a new chapter in Natura &Co's history,” declared Roberto Marques, executive chairman of Natura &Co Holding.
On 6 January 2020, Natura &Co is expected to begin trading on the NYSE through American Depositary Receipts (ADRs), under the NTCO ticker symbol, in addition to continuing trading shares on the B3 stock exchange in São Paulo.
Source: Avon Products