MC Sonae, Druni and Arenal to form a joint venture.

MC Sonae, a food retail company, Druni, a perfumery, cosmetics and para-pharmacy retail company, and Arenal, a a perfumery and cosmetics company, agreed to form a joint venture, to create an operator in the health, wellness and beauty segment in Spain. Financial terms were not disclosed. "This agreement represents an important milestone in the development of Sonae's investment strategy, increasing the Group's international exposure and diversification in a retail segment with strong growth tailwinds, ensuring a market leadership position in partnership with a reference management team in the sector," MC Sonae.