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Sunday, May 19, 2024

L’Occitane’s Billionaire Proprietor Reinold Geiger Eyes Taking Firm Personal in a Potential US$7 Billion Deal


THE WHAT?    Reinold Geiger, billionaire proprietor of L’Occitane Worldwide SA, is reportedly nearing a bid to denationalise the skin-care big in a deal that would worth the corporate at roughly US$7 billion, together with debt. Sources near the matter recommend that Geiger would possibly suggest to buy the shares he doesn’t already personal at a worth vary of HK$33 to HK$34 every, doubtlessly as early as subsequent Monday.

THE DETAILS   L’Occitane, recognized for its luxurious skin-care merchandise and pure elements, might see its enterprise worth rise to about €6.5 billion (US$7 billion) with this transfer. The privatization effort is claimed to be supported by substantial monetary backing from main monetary gamers, together with Blackstone Inc.’s tactical alternatives fund and Goldman Sachs Group Inc.’s asset administration arm, contributing round €1.6 billion in complete funding. Presently, a car beneath Geiger’s management holds greater than 70% of the corporate, with L’Occitane shares having been suspended on the Hong Kong Inventory Change since April 9 in anticipation of a takeover-related announcement.

THE WHY? This potential privatization comes after L’Occitane’s 14-year tenure on the Hong Kong inventory alternate, marking a big strategic shift that would finish its public buying and selling. Geiger, who first grew to become a minority shareholder in 1994 and later moved into an operational function to revitalize the model, has been instrumental in L’Occitane’s world enlargement, notably into Asia, regardless of preliminary setbacks.

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