Grupo Silvio Santos plans to split the ownership of direct sales company Jequiti in the first half and has hired Barclays Plc 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.