Online publications such as CNBC or Bloomberg are reporting that Alpargatas, owner of the Brazilian flip-flop brand Havaianas, has a new majority owner. The 86% stake of J&F Investimentos (a holding owned by brothers Joesley and Wesley Batista) of Alpargatas was sold to a new pool of investors made up of Cambuhy Investimentos Ltda, Itaúsa Investimentos SA and the fund Brasil Warrant for 3.5 billion reals (US$1.1 billion).

The much-awaited sale is the first one by J&F, the holding company of Brazil's billionaire Batista family, which is obliged to pay a 10.3 billion real fine linked to a corruption probe. Proceeds from the sale will go to help repay J&F's debt and speed up payments on the fine.



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