The maker of Havaianas, the colourful Brazilian flip-flops donned by celebrities, is poised to pass from one of Brazil's most-powerful families to another thanks to the country's latest political turmoil.
Cambuhy Investimentos, the private-equity firm backed by the Moreira Salles family, is in talks to buy the trendy sandal maker officially known as Alpargatas from J&F; Investimentos, according to a filing on Monday, which didn't provide further details on the negotiations.
![A private-equity firm backed by the Moreira Salles family is in talks to buy the trendy sandal maker.](http://web.archive.org./web/20170704001325im_/https://www.fairfaxstatic.com.au/content/dam/images/g/p/5/r/u/d/image.related.articleLeadwide.620x349.gwzkqz.png/1498542655876.jpg)
J&F; is controlled by the Batistas, the family that's become the centre of a national political crisis after confessing to bribing government officials.
Cambuhy signed a confidentially agreement on June 23 with J&F; for a possible acquisition of Alpargatas, the sandal maker said in the filing.
![Buying Havaianas would give the Moreira Salles family a brand worn by the likes of Kim Kardashian and Gwyneth Paltrow.](http://web.archive.org./web/20170704001325im_/https://www.fairfaxstatic.com.au/content/dam/images/g/q/3/u/w/w/image.related.articleLeadwide.620x349.gwzkqz.png/1498542655876.jpg)
J&F; is selling assets as it tries to survive the major political scandal. It agreed last month to pay 10.3 billion reais ($4.25 billion) as part of a settlement with Brazilian authorities after Wesley and Joesley Batista, the brothers who run meat producer JBS, confessed to graft and other crimes.
J&F; planned to raise at least 8 billion reais through divestments that also include dairy company Vigor Alimentos, S&P; Global Ratings said in a report earlier this month.
The Batista brothers agreed to buy control of Alpargatas in late 2015 using a 2.67 billion-real loan from government-owned Caixa Economica Federal in a deal that's being investigated by the country's audit court.
Cambuhy was established in 2011 by the billionaire co-chairman of Itau Unibanco Holding, Pedro Moreira Salles, who has a 31 per cent stake in the private-equity firm. The Moreira Salles clan, with a combined fortune of about $US19.6 billion ($25.8 billion), is one of the families that controls Itau, Latin America's largest bank by market value.
Buying Havaianas would give the Moreira Salles family a brand worn by the likes of Kim Kardashian and Gwyneth Paltrow. The footwear sits atop the global flip-flop hierarchy, with a Swarovski-encrusted pair retailing for $US70 at Saks Fifth Avenue.
Bloomberg