© Reuters.
Aurelius Group, the investment firm, has emerged as the preferred bidder in the ongoing negotiations to purchase The Body Shop, a UK-based cosmetics retailer. The deal is expected to be finalized in November.
The potential acquisition comes as part of a cost-cutting strategy by Natura & Co Holding SA, the current owner of The Body Shop. Sao Paulo-based Natura & Co acquired the cosmetics retailer from L’Oreal six years ago and is now seeking to divest it at a value significantly below the £400-£500 million range.
Morgan Stanley is assisting Natura in its bid to finalize the deal before the end of this year. Aurelius Group managed to outbid other interested parties including Alteri Investors and Elliott Advisors to become the preferred bidder for The Body Shop.
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