Reinold Geiger, the billionaire owner of L’Occitane International, is close to making a proposal to take the French skincare company private, according to Bloomberg News. Geiger’s investment holding company, L’Occitane Groupe SA, is reportedly considering an offer for the Hong-Kong-listed firm’s shares he does not already own at a price of HK$33 to HK$34 per share. This potential deal could value the company at around $7 billion, including debt.
The report suggests that Blackstone Inc’s tactical opportunities fund and Goldman Sachs Asset Management may provide around 1.6 billion euros in funding for the buyout. Trading of L’Occitane’s shares was suspended in Hong Kong on April 9, pending an announcement related to takeover codes. Geiger’s decision to proceed with the deal follows a previous attempt to take the company private, which he had shelved last September.