The Zhitong Finance App learned that according to reports, the billionaire owner of L'Occitane (00973) will make a proposal to privatize the French skincare company as early as Monday, including debt. The deal valued the company at about 7 billion US dollars.
People familiar with the matter said that Chairman Reinold Geiger's investment holding company L'Occitane Groupe SA (L'Occitane Groupe SA) is considering buying shares in the Hong Kong listed company that he does not yet hold at a price of HK$33 to HK$34 per share.
Earlier this month, reports surfaced that Geiger was in in-depth discussions with investors and lenders and plans to try to buy the company, according to two sources. A few months ago, Geiger put a takeover attempt on hold.
The report said that L'Occitane's valuation could reach 6.5 billion euros (6.95 billion US dollars), adding that Blackstone (BX.US)'s tactical opportunity fund and Goldman Sachs (GS.US) asset management department may provide about 1.6 billion euros in capital.
According to information, L'Occitane suspended trading on the Hong Kong Stock Exchange on April 9, awaiting the announcement of the relevant takeover code.
L'Occitane, Blackstone, and Goldman Sachs did not immediately respond to requests for comment.