Brazil’s Natura denies plan to spin-off, sell companies

The brand of Natura is image on the firm headquarters in Sao Paulo, Brazil December 19, 2019. REUTERS/Amanda Perobelli/File Picture

SAO PAULO, Sept 15 (Reuters) – Brazil’s Natura & Co Holding SA (NTCO3.SA) mentioned on Thursday its board will not be contemplating a derivative of its Aesop cosmetics model or the sale of Physique Store, denying rumors of a worldwide restructuring of its enterprise.

In a securities submitting, the group mentioned it isn’t “conducting any examine a few potential spinoff” or sale of its firms.

The proprietor of the Natura, Avon, Aesop and The Physique Store manufacturers was anticipated to announce the subsequent steps in its restructuring course of after a string of lackluster quarterly outcomes weighed on the corporate’s inventory.

The expectation made the corporate’s shares to rise 1.58% in Sao Paulo’s inventory market, but it surely stays greater than 70% under the document excessive it reached final yr.

In June, Natura tapped former Santander Brasil government Fabio Barbosa to take the helm on the firm, saying on the time it deliberate to extend the accountability of its enterprise models after years of growth fueled by high-profile acquisitions. learn extra

Reporting by Peter Frontini and Andre Romani; Modifying by Diane Craft and Josie Kao

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