August 4, 2017 / 11:02 AM / a year ago

Brazil's J&F sale of Alpargatas gets antitrust nod -official gazette

SAO PAULO, Aug 4 (Reuters) - Brazilian antitrust authority Cade has approved the sale of Alpargatas SA, maker of the Havaianas flip-flops, to a group of investors led by Cambuhy Investimentos Ltda, according to the Friday edition of the official gazette.

It said the investor grouping also includes Itaúsa Investimentos SA and Fundo Brasil Warrant.

J&F Investimentos, controlled by the Batista family who also owns the world’s largest meatpacker JBS SA, agreed to sell an 86 percent stake in Alpargatas to the Cambuhy-led consortium for 3.5 billion reais ($1.12 billion) last month. ($1 = 3.1129 reais) (Reporting by Gabriela Mello; Writing by Ana Mano; Editing by W Simon)

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