Towards a new direction for L’Occitane? This Tuesday, Bloomberg claims that the American investment fund Blackstone is on the verge of concluding an agreement to privatize the French cosmetics group, now listed on the Hong Kong Stock Exchange. An operation which would be carried out with the billionaire owner of the group, the Austrian Reinold Geiger, according to the media. Citing people close to the matter, Bloomberg indicates that an
“announcement”
could be made in the coming days on this operation, the outlines of which remain unclear. Both parties did not comment on the subject.
In the meantime, the company's listing was suspended in Hong Kong today.
"The listing of the company's shares will be interrupted [...] from 9 a.m. on April 9, pending the publication of an announcement in application of the Takeovers and Mergers code"
, it is indicated in a press release released today. The stock had fallen back below the 30 Hong Kong dollar mark in recent days, but remained close to its highest level since last year.
Present in 90 countries, the L'Occitane group notably owns the brand of the same name, founded in 1976, as well as Melvita, bought in 2008, and Erborian, in 2012. Listed since 2010 in Hong Kong, the group had, during its introduction , raised more than $700 million. Last year, a takeover project had already failed, after a refusal from the chairman of the board of directors.
“The board of directors of the company announces that it was informed by the majority shareholder on September 3, 2023 of its decision not to proceed with a possible transaction
,” the company simply indicated, in a press release, without further details. .