(Reuters) -Blackstone Inc is nearing a take-private deal for Hong Kong-listed skincare firm L’Occitane Worldwide SA, Bloomberg Information reported on Tuesday, citing folks conversant in the matter.
The $5.55-billion French cosmetics firm earlier within the day halted buying and selling in its Hong Kong shares forward of an announcement which will doubtlessly spell out particulars on any takeover plans.
The U.S. non-public fairness big could be a part of palms with L’Occitane billionaire proprietor Reinold Geiger, based on the report.
Blackstone (NYSE:) has been exploring a cope with L’Occitane, however the construction of the deal shouldn’t be instantly clear, an individual with data of the matter informed Reuters, however requested anonymity as the data was non-public.
Blackstone declined to remark, whereas L’Occitane couldn’t be instantly reached.
Bloomberg had in February reported that Blackstone was contemplating a bid for L’Occitane, which despatched the French agency’s shares surging to their highest ranges in two years.
Austrian billionaire Geiger, the controlling shareholder of L’Occitane, had determined towards a deal to take the corporate non-public final September, triggering a drag within the shares.