Equities

Reuters exclusively reports J&F ends Brazil's Alpargatas sale talks over price; shares fall

Reuters exclusively reports J&F ends Brazil's Alpargatas sale talks over price; shares fall

Reuters exclusively reported that Brazilian investment group J&F ended talks about selling a controlling stake in flip flop maker Alpargatas worth over $1 billion because it could not agree with the prospective buyers on the price. Shares in Alpargatas, which had been surging in recent weeks, fell up to 1.5 following the Reuters report, which was widely picked up by local media.