Avon sees the tie-up as boosting its online offering at a time when direct selling is under pressure from internet sales.
The takeover will give them a commanding market share of almost 47% in Brazil - their largest single market - where Natura has a 31% share currently, according to research group Euromonitor.
Natura said it expected the deal to be concluded by early next year - a consequence of the requirement for shareholders of both firms and competition authorities in several countries to approve the tie-up. "It stands as a testament to the progress of our efforts to 'Open Up Avon', and we believe it will allow us to significantly accelerate our strategy and further expand into the online channel.
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