J&F Investimentos has terminated the negotiations over the sale of a controlling stake of 86 percent in Alpargatas, the parent company of Havaianas and the licensee of Mizuno for Brazil and Argentina, apparently because it could not agree on the price of the transaction. The company was in exclusive talks with two major Brazilian investment firms, Cambuhy Investimentos and Itaùsa Investimentos. J&F is controlled by the family of Joesley and Wesley Batista, who have agreed to plea bargaining in a bribing scandal. The prospect of Alpargatas' sale has raised its share value considerably. The Batistas have indicated that they are going to engage in competitive bidding with other parties for Alpargatas.

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