Deals

Billionaire Geiger, Blackstone Near L’Occitane Deal

Reinold Geiger eyeing take private of global cosmetics brand
Blackstone may provide debt financing for buyout transaction

WATCH: Bloomberg has learned that Blackstone Inc. is nearing a deal to take L’Occitane International SA private, potentially ending the global cosmetics company’s 14-year run on Hong Kong’s stock exchange. Manuel Baigorri reports.Source: Bloomberg

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By Ruth David, Vinicy Chan, and Dong Cao

April 9, 2024 at 1:51 AM UTC

Updated on

April 9, 2024 at 11:28 AM UTC

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L’Occitane International SA’s billionaire owner Reinold Geiger is nearing a deal to take the skin-care company private with funding help from Blackstone Inc., people familiar with the matter said, potentially ending its 14-year run on Hong Kong’s stock exchange.

The world’s largest alternative asset manager may provide debt financing for the buyout, the people said, asking not to be identified as the information isn’t public. An announcement may come in the coming days, they said. Trading of L’Occitane was suspended in Hong Kong on Tuesday, pending an announcement related to takeover codes. The stock closed at HK$29.50 on Monday.