Billionaire Geiger said to near $7bn L’Occitane buyout

L’Occitane International SA’s billionaire owner Reinold Geiger is close to making an offer to take the skin-care company private, according to people familiar with the matter, in a deal that could value the firm at about $7 billion including debt.

Trading of L’Occitane was suspended in Hong Kong on April 9, pending an announcement related to takeover codes. The stock closed at HK$29.50 a day earlier, giving the company a market value of about $5.6 billion. Talks are ongoing, no final decisions have been made and details such as price and timing could still change, the people said.

Blackstone, the world’s largest alternative asset manager, counts tactical opportunities as a platform to make investments and provide opportunistic capital that other traditional strategies won’t pursue, according to its website. The tactical opportunities fund has made about 173 investments, including in US-listed Chinese data center firm Vnet Group Inc., and counted about $35 billion in assets under management as of the end of March.

Source: News Formal (newsformal.com)

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