Retail

Brazilian cosmetics group Natura has announced that it is buying UK-based direct-selling cosmetics business Avon. Natura, which already owns The Body Shop and Aesop, is Brazil’s top business in cosmetics, perfumes and toiletries. Its all-stock offer of about $2bn (£1.6bn) means Natura shareholders will hold 76% of the combined company, which will have annual revenue of over $10bn. The deal will create the world’s fourth-largest cosmetics company. The new combined company will boast 3,200 stores…

Struggling department store chain Debenhams has agreed a £200m refinancing lifeline with lenders. The deal offered “reassurance” for employees, pension holders, suppliers and lenders, it said. The retailer said it would continue with plans to cut the number of its stores and negotiate rent reductions. The financial deal leaves the door open for Mike Ashley’s Sports Direct, which has been has been vying to seize control of Debenhams, to make a bid. “We are pleased…

Debenhams is close to receiving a £200m lifeline from lenders that would prevent the department store falling into the hands of largest shareholder Mike Ashley. A deal finalising its borrowing facilities, which are larger than expected, could be announced as soon as today, according to Sky News. The retail chain said earlier in the month that it was in “advanced negotiations with its current lenders about additional facilities of approximately £150m”. The figure has increased…