06:22 AM EDT, 04/09/2024 (MT Newswires) -- Blackstone (BX) is close to securing a funding deal with L'Occitane's owner Reinold Geiger to take L'Occitane private, Bloomberg reported Tuesday, citing unnamed people familiar with the matter.

L'Occitane, a maker and retailer of high-end skincare products and soaps, is listed on Hong Kong's stock exchange with a market capitalization of about 43.6 billion Hong Kong dollars ($5.57 billion). Trading of shares in the company was suspended over takeover rumors, the stock exchange said.

Blackstone may provide debt financing for the buyout, Bloomberg reported, citing its sources.

The deal could be announced in the coming days but could also fall apart, the sources told Bloomberg.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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