Brazilian cosmetics maker Natura said on Thursday it has agreed to sell its Avon International unit to holding firm Regent, ending a long period of uncertainty after announcing last year it was weighing alternatives for the business arm.

The sale of the unit, which aggregates Avon's businesses outside Natura's key Latin American market, sent Sao Paulo-traded shares in the company up more than 13%.

Natura has been carrying out divestitures as part of a broader strategy to simplify its structure, integrate business units and focus on Latin America, after struggling with profitability in recent years.

The company had previously sold the Aesop, opens new tab and The Body Shop brands, and earlier this week announced a deal to sell Avon's businesses in Central American countries to Grupo

See Full Page