We are advising Natura on the sale

Davis Polk is advising Natura on the sale of the Avon International business in Europe, Africa and Asia to Regent. The transaction is subject to regulatory approvals and other customary closing conditions. The sale provides for Natura to receive future payments up to £60 million contingent upon the future performance of the Avon International business and certain liquidity events. The transaction excludes the Avon brand in Latin America, which will remain with Natura.

Founded in 1969, Natura is a multinational cosmetics and personal care company, headquartered in São Paulo, Brazil. Natura operates in 11 countries, with 7,000 employees and 2 million beauty consultants worldwide.

Headquartered in Northampton in the United Kingdom, Avon International is a global beauty and personal care company, offering cosmetics, skincare, fragrance and wellness products.

Regent is a global holding company with investments across the consumer, technology, media, automotive and industrial sectors. Regent’s portfolio includes Bally, DIM Paris, Escada, Sassoon and Playtex alongside media and technology businesses like TechCrunch, Foundry, CrossKnowledge and Boundless Learning. Regent is headquartered in Beverly Hills, California.

The Davis Polk corporate team includes partner Michael Senders, counsel William Tong and associates Andrew R. Board and Ayse Atun. Partner Manuel Garciadiaz is providing capital markets advice. Partners Dominic Foulkes and Patrick E. Sigmon are providing tax advice. Partner Frank Azzopardi and associate Lachlan J. Forrester are providing intellectual property advice. Partner Matthew Yeowart is providing antitrust and competition advice. Members of the Davis Polk team are based in the New York, São Paulo and London offices.

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