June 27, 2017 / 6:38 AM / 2 months ago

BRIEF-L'Oreal, Natura sign formal contract for previously announced Body Shop sale

June 27 (Reuters) - L'oreal/Natura/Body Shop:

* L'Oréal announces that the contract for the sale of The Body Shop to Natura was signed after receiving the advice of L'Oréal's Works Council, regarding this deal which was previously announced on 9 June

* On June 9, L'Oreal said it had started exclusive talks to sell The Body Shop business to Brazilian make-up company Natura Cosmeticos in a possible 1 billion euros ($1.1 billion) deal.

* Founded in 1976 by British entrepreneur Anita Roddick, The Body Shop was a pioneer in its field but had since fallen victim to increased competition from newcomers offering similar products based on natural ingredients with no animal testing.

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