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L'Occitane's billionaire owner close to possible $7 bln buyout bid, Bloomberg reports
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L'Occitane's billionaire owner close to possible $7 bln buyout bid, Bloomberg reports
Apr 28, 2024 12:30 PM

April 29 (Reuters) - The billionaire owner of L'Occitane

International is close to making a proposal to take

the French skincare firm private as early as Monday in a deal

that could value it at about $7 billion including debt,

Bloomberg News reported.

Chairman Reinold Geiger's investment holding company,

L'Occitane Groupe SA, is considering an offer for the Hong-Kong

listed firm's shares he does not already own, at HK$33 to HK$34

per share, the report said, citing people familiar with the

matter.

Earlier in the month, Reuters reported that Geiger was in

advanced discussions with investors and lenders and was planning

to make an attempt to buy out the company, months after he had

shelved a previous attempt, according to two sources.

A possible offer could value L'Occitane at about 6.5 billion

euros ($6.95 billion), Bloomberg reported, adding that

Blackstone Inc's ( BX ) tactical opportunities fund and Goldman

Sachs Asset Management may provide around 1.6 billion euros in

funding.

Trading of L'Occitane was suspended in Hong Kong on April 9,

pending an announcement related to takeover codes.

Geiger had decided against a deal to take the company

private last September, triggering a drag in the shares.

L'Occitane, Blackstone and Goldman Sachs ( GS ) did not immediately

respond to a Reuters request for comment.

($1 = 0.9353 euros)

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