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Silvio Santos Hires Barclays to Seek Jequiti Partner, Valor Says

Grupo Silvio Santos plans to split the ownership of direct sales company Jequiti in the first half and has hired Barclays Plc (BARC) to seek a cosmetics group as a partner, Valor Economico reported, citing Lasaro do Carmo Junior, chief executive officer of Jequiti.

Coty Inc., a U.S.-based perfume-maker, is still interested in forming a joint venture with Silvio Santos and will take part in the negotiations with prospective partners in February, according to the Sao Paulo-based newspaper. More than 10 companies have expressed interest, Valor said.

Silvio Santos hasn’t ruled out a possible sale of Jequiti, Valor said. With the planned partnership, it hopes to accelerate a listing of Jequiti’s shares, according to Valor.

To contact the reporter on this story: Karen Eeuwens in London at keeuwens@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net

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