According to a report by Bloomberg News, Blackstone Inc., a prominent U.S. private equity firm, is reportedly nearing a take-private deal for L’Occitane International SA, a Hong Kong-listed skincare company.
The French cosmetics company, valued at $5.55 billion, suspended trading of its Hong Kong shares earlier in the day, hinting at an imminent announcement regarding potential takeover plans.
Sources familiar with the matter suggest that Blackstone may collaborate with Reinold Geiger, the billionaire owner of L’Occitane, to facilitate the deal. While Blackstone has been actively exploring a partnership with L’Occitane, details about the structure of the deal have not been disclosed. A Reuters source, who preferred to remain anonymous due to the confidential nature of the information, confirmed that discussions were ongoing between the parties involved.
It is worth noting that last September, Reinold Geiger, the controlling shareholder of L’Occitane, had decided against a deal to take the company private, leading to a decline in the company’s stock value. However, with Blackstone’s potential involvement, the situation seems to have taken a different turn, raising expectations of a successful take-private transaction.
