April 9 (Reuters) - Blackstone Inc ( BX ) is closing in
on a deal to take Hong Kong-listed skincare company L'Occitane
International SA private, Bloomberg News reported on
Tuesday, citing people familiar with the matter.
The $5.55-billion French cosmetics company halted trading in
its Hong Kong shares earlier in the day ahead of a likely
announcement spelling out details on any takeover plans.
The U.S. private equity giant may join hands with
L'Occitane's billionaire owner Reinold Geiger, according to the
report.
Blackstone 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, requesting anonymity
as the information was private.
Blackstone declined to comment, while L'Occitane could not
be immediately reached.
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.
The buyout offer came from Geiger's investment holding
company, L'Occitane Groupe SA, when Hong Kong emerged as an
epicentre of buyout deals and several firms from the West were
looking to boost exposure in the rapidly growing Chinese market.
L'Occitane listed in Hong Kong in 2010, and was one of the
first western companies to sell its primary shares in the Asian
financial hub at the time.
Bloomberg reported in February that Blackstone was
considering a bid for L'Occitane, sending the French firm's
shares surging to their highest levels in two years.