SAO PAULO, Nov 14 (Reuters) - Brazilian cosmetics maker Natura &Co said on Tuesday it has signed a binding agreement to sell subsidiary The Body Shop to private investor Aurelius Group in a deal with an enterprise value of 207 million pounds ($254.32 million).
Natura said the agreement includes a potential earn-out of 90 million pounds, adding that both the sale price and the earn-out would be paid in up to five years after closing of the transaction.
The move represents the second major divestment by Natura this year as part of a broader organizational shakeup, following a
deal
announced in April to sell luxury brand Aesop to L'Oreal at an enterprise value of $2.53 billion. ($1 = 0.8139 pounds) (Reporting by Gabriel Araujo; Editing by Steven Grattan)
