07:02 AM EDT, 04/10/2024 (MT Newswires) -- (Updates with L'Occitane's response in the third paragraph.)

Blackstone (BX) is close to securing a funding deal with L'Occitane 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 be delayed or fall apart, the report said, quoting the sources.

Blackstone and L'Occitane declined to 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 in the company's shares was suspended in Hong Kong on Tuesday pending an announcement.

(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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