A L’Occitane Global SA cosmetics retail outlet in central Paris, France, on July 31, 2023.
Benjamin Girette | Bloomberg | Getty Photos
Hong Kong-mentioned L’Occitane Intercontinental‘s chairman and managing shareholder will take the French pores and skin-care agency non-public, valuing it at a greatest of HK$13.91 billion (US$1.78 billion), the firm reported on Monday.
Reuters described in early April that L’Occitane’s Chairman Reinold Geiger was in advanced talks with investors and creditors about the deal, with U.S. personal fairness large Blackstone wanting to provide personal debt financing to fund the offer.
As section of the offer, Austrian billionaire Geiger’s investment holding enterprise L’Occitane Groupe in Luxembourg will fork out HK$34 for every share not now owned, symbolizing a 30.8% premium to the stock’s final near of HK$26 on Feb. 5.
L’Occitane Groupe owned 72.39% of the cosmetics organization at March-finish.
The investment holding organization does not intend to maximize the present selling price for the deal, which arrives a few months soon after Geiger shelved a buyout endeavor for the enterprise.
L’Occitane International’s shares, which ended up halted on April 9, will resume trading on Tuesday.
J.P. Morgan will be the economic advisor for L’Occitane Groupe.