L'Oreal sells The Body Shop

Cosmetic giant L'Oreal will sell The Body Shop to Natura, a Brazilian cosmetics firm.
 
L'Oreal previously said The Body Shop was worth $1.1 billion, though new financial details have not released.
 
Natura has been looking to grow its business outside of Latin America, and analysts at Liberum say this is a good move for the company. The deal will need regulatory approval, and could close later this year.
 
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