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May grab stake in Jequiti.
May 22, 2013
By: TOM BRANNA
Editor
Avon Products Inc. is reportedly in talks to buy a stake in Jequiti Cosméticos, a Brazilian direct sales cosmetics company, for about 500 million reals, or $246.3 million at current exchange, according to sources. The stake, however, would not give control of the Brazilian company to Avon, the sources said. Coty Inc. and L’Oréal SA have also courted Jequiti since last year, when its controlling shareholder Silvio Santos, a Brazilian media mogul, hired Barclays plc to find a partner for his cosm...
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