86% stake in Brazil flip-flop maker sold for â¹7000 crore
Investment company J&F Investimentos has agreed to sell 86% stake in Havaianas flip-flop maker Alpargatas to the investment firms of Brazil's most prominent banking families for $1.1 billion (â¹7,000 crore), according to regulatory filings. Proceeds from the sale will reportedly help repay J&F's debt and speed up payments on the $3.21 billion (â¹20,500 crore) fine linked to a corruption probe.  