It appears that L’Oreal has settled on a buyer for The Body Shop.

The French cosmetics giant is in exclusive talks to sell its Body Shop division to Brazilian make-up company Natura Cosmeticos, Bloomberg reported. The reported price: $1.1 billion,

Natura is the largest Brazilian cosmetics company. The transaction would be subject to regulatory approval and would be expected to close later this year.

A retail pioneer in all-natural beauty products, ethical sourcing and…