By Like Tugby.
Natura, Brazil’s leasing cosmetics firm, did not reveal how much the deal was worth, but it is understood to be in the region of €1bn (£880m).
As previously reported, L’Oréal initially struck a deal to sell The Body Shop to Natura on June 9, but that transaction has now been rubber-stamped by the relevant authorities.
Natura said the acquisition marked “a further decisive step” in its bid to become a “global, multibrand and multichannel cosmetics group”.
It already boasts the Natura and Aesop brands in its stable.
Read more at Retail Week.