PARIS, June 9 French cosmetics and luxury goods
group L'Oreal has started talks with Brazilian make-up
company Natura Cosmeticos over selling its Body Shop
business, L'Oreal said on Friday.
L'Oreal added in a statement that the companies' proposed
transaction placed an enterprise value of 1 billion euros ($1.1
billion) on The Body Shop business.
L'Oreal said earlier this year that it was reviewing its
strategy for The Body Shop, which it bought for 652 million
pounds in 2006, and the sale of the business had attracted a
wide range of bidders.
Founded in 1976 by British entrepreneur Anita Roddick, the
company was a pioneer in the ethical beauty industry but has
since fallen victim to increased competition from newcomers also
offering similar products based on natural ingredients and no
($1 = 0.8930 euros)
(Reporting by Sudip Kar-Gupta ; Editing by Matthias Blamont)