L’Occitane owner in advanced talks for $6.5 bln buyout - Bloomberg News
09/08/2023 04:18
Aug 9 (Reuters) - L'Occitane International SA's
0973.HK controlling shareholder is in advanced talks on a
potential deal to take the skincare company private at a
valuation of around $6.5 billion, Bloomberg News reported on
Wednesday.
Billionaire Chairman Reinold Geiger has been discussing a
possible offer of about HK$35 for each L'Occitane share he
doesn't already own, the report said, citing people familiar
with the matter. The proposed bid represents a 37% premium to
the company's closing price on Tuesday, according to Refinitiv
data.
Geiger has also been speaking to advisers about the
possibility of re-listing the skincare products group on a
European exchange as soon as next year, the report said.
L'Occitane did not immediately respond to a Reuters' request
for comment.
(Reporting by Shivani Tanna in Bengaluru; Editing by Dhanya Ann
Thoppil)
((ShivaniJayesh.Tanna@thomsonreuters.com;))