08:01, June 12 583 0

2017-06-12 08:01:08
Linklaters and Davis Polk win top roles on Body Shop sale

Linklaters is advising longstanding client L’Oréal on its potential sale of The Body Shop for over €1bn.

The Body Shop’s parent company L’Oréal revealed on Friday that it had reviewed strategic options for the company and had received a firm offer from Brazilian brand Natura Cosméticos.

Natura has sought legal advice from US heavyweight Davis Polk & Wardwell, with a team led by Paris-based partner Jacques Naquet-Radiguet.

Naquet-Radiguet is being supported by a team in London consisting of corporate partner Will Pearce and tax partner Jonathan Cooklin.

In São Paulo, partner Manuel Garciadiaz has been working alongside Brazilian firm Pinheiro Neto Advogados.

L’Oréal has returned to magic circle firm Linklaters for advice and the team is led by partner Vincent Ponsonnaille in Paris, alongside his corporate colleague Laurent Victor-Michel.

Banking partner Alexander Naidenov has been working on the deal in London, while counsel Christopher Yip has been on hand in Hong Kong. Competition aspects of the deal are being led by Paris partner Anne Wachsmann.

Baker McKenzie is also understood to have a role in the deal, working with L’Oréal.

Discussions are ongoing, with The Body Shop valued at €1bn. The proposed transaction is expected to close during 2017.