Summary by Moomoo AI
L'OCCITANE INTERNATIONAL S.A. (AUXUDAN) announced on March 28, 2024 that it has entered into a sale agreement with the buyer to sell its entire interest in Grown Alchemist to the buyer, and upon completion of the transaction, Grown Alchemist will no longer be a subsidiary of the Group. The sale is priced at 28,352,809 euros and is expected to be paid in cash by September 30, 2024. The sale is based on a strategic realignment of the company, focusing resources on the core brand L'OCCITANE en Provence and fostering the growth of other brands. The buyer is controlled by Mr. André Hoffmann, the executive director of the company, and therefore constitutes a connected transaction. According to the Listing Rules, the relevant applicable...Show More