July 12, 2017 / 8:16 PM / in 10 days

Brazil's J&F, Cambuhy group resume Alpargatas talks, sources say

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SAO PAULO, July 12 (Reuters) - J&F Investimentos SA has resumed talks to sell a controlling stake in Havaianas flip-flop maker Alpargatas SA to the investment firms of Brazil's most prominent banking families, two people with direct knowledge of the matter said on Wednesday.

Reuters said on Sunday that J&F broke off talks after Cambuhy Investimentos Ltda and Itaúsa Investimentos SA pressed to lower the asking price for Alpargatas. Cambuhy and Itaúsa had offered between 3.3 billion reais and 3.5 billion reais ($1 billion and $1.1 billion) to win control of J&F's 86 percent stake in Alpargatas.

The people, who spoke on condition of anonymity because talks are private, said there is no certainty a deal will be struck or whether it is imminent. The companies did not have an immediate comment. ($1 = 3.2092 reais) (Reporting by Tatiana Bautzer; Writing by Guillermo Parra-Bernal)

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