Blackstone nears take-private deal for L'Occitane, Bloomberg News reports
© Reuters. FILE PHOTO: Cosmetic products displayed in the window of a L’Occitane cosmetics store in central Paris, France, February 6, 2024. REUTERS/Benoit Tessier/File Photo -Blackstone Inc is nearing a take-private deal for Hong Kong-listed skincare company L'Occitane International SA, Bloomberg News reported on Tuesday, citing people familiar with the matter.
The $5.55-billion French cosmetics company earlier in the day halted trading in its Hong Kong shares ahead of an announcement that may potentially spell out details on any takeover plans.) has been exploring a deal with L'Occitane, but the structure of the deal is not immediately clear, a person with knowledge of the matter told Reuters, but requested anonymity as the information was private.
Austrian billionaire Geiger, the controlling shareholder of L'Occitane, had decided against a deal to take the company private last September, triggering a drag in the shares.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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