Natura hopes to accelerate deleveraging after its purchase of The Body Shop

Cosmetics manufacturer Natura wants to accelerate the process of deleveraging after its purchase of The Body Shop, said the CEO of the Brazilian company, João Paulo Ferreira, on Tuesday. 

Announcing its Q3 results, Natura reported that its net debt to Ebitda ratio was 3.52 at the end of September, compared to 1.47 in September 2016. Natura's goal when it announced its purchase of The Body Shop for around 1 billion euros in June was to close 2017 with a ratio of 3.6, before reducing this gradually to last year's levels by 2022. 

"It's still too early to review our guidance, but we want to reduce our leverage as fast as possible," Ferreira said to journalists during a conference call.