Blackstone on brink of L’Occitane deal
THE WHAT? Blackstone is said to be poised to sign on the dotted line in a deal that will take, L’Occitane Group into private ownership. Trading of the natural beauty brand was suspended on Tuesday, with stock closing at HK$29.50.
THE DETAILS According to a report published by Bloomberg, quoting sources ‘familiar with the matter’, Blackstone will provide debt financing to L’Occitane owner Reinold Geiger. Geiger is said to be mulling an offer of HK$26 per share.
THE WHY? Both Blackstone and L’Occitane declined to comment when contacted by Bloomberg. The news agency suggests that the move is an indication that Reinold has initiated a succession plan for the firm.
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