Brazil’s Natura denies plan to sell separate companies

Brazil’s Natura denies plan to sell separate companies

São Paulo (Reuters) – Brazil’s Natura & Co Holding SA said on Thursday its board is not considering a branch of its cosmetics brand Aesop or selling the Body Shop, denying rumors of a global restructuring of its business.

In a securities filing, the group said it was not “conducting any study on a potential branch” or sale of its companies.

The owner of brands Natura, Avon, Aesop and The Body Shop was expected to announce the next steps in the restructuring process after a series of lackluster quarterly results that affected the company’s shares.

Expectations made the company’s shares rise 1.58% on the Sao Paulo stock market, but it’s still 70% below the record high set last year.

In June, Natura appointed former Santander CEO (BME:) Brasil Fabio Barbosa to take over the company, saying at the time that it planned to increase the accountability of its business units after years of expansion fueled by high-profile acquisitions.

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