SÃO PAULO -- J&F Investimentos SA, which controls Brazilian meatpacking giant JBS SA, has agreed to sell its majority stake in flip-flop maker Alpargatas SA to investment firm Cambuhy Investimentos Ltda. and other investors for 3.5 billion reais ($1.1 billion), the footwear producer said Wednesday.
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Alpargatas, which makes the Havaianas brand of sandals, said in a regulatory filing that the other buyers are a unit of lender Itaú Unibanco Holding SA and a company called Brasil Warrant Administração de Bens e Empresas SA.
The purchase is subject to approval by the relevant authorities, Alpargatas said.
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(END) Dow Jones Newswires
July 12, 2017 22:29 ET (02:29 GMT)