08:25 AM EDT, 04/09/2024 (MT Newswires) -- (Updates with Blackstone's response in the third paragraph, confirmation from a source in the fourth paragraph, as well as minor edits)

Blackstone (BX) is close to securing a funding deal with L'Occitane's owner Reinold Geiger to take L'Occitane private, Bloomberg reported late Monday, citing people familiar with the matter.

The deal could be announced in the coming days but could also fall apart, the report said, quoting the sources.

Blackstone declined to comment. L'Occitane did not immediately reply to MT Newswires' request for comment.

A source familiar with the matter confirmed to MT Newswires that a deal was being discussed and that Blackstone may provide debt financing for the buyout.

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 the company's shares was suspended in Hong Kong on Tuesday over takeover rumors.

(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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