By Newsfeed

RIO DE JANEIRO, BRAZIL - The Brazilian cosmetics maker Natura announced yesterday that it is buying Avon Products in an all-stock deal that is valued at $3.7 billion, in a move that would create the world's fourth-largest group of beauty products.

Shareholders of both companies would have to approve the deal. As part of this transaction, a new Brazilian holding company, Natura Holding S.A., has been created.

Natura & Co’s shareholders will own approximately 76 percent of the combined company, while Avon shareholders will own roughly 24 percent.

The merger creates a group . . .

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