The owner of L’Occitane, Reinold Geiger, intends to buy all his shares and privatize the company. Due to a possible takeover of the company, trading in his shares in Hong Kong was suspended. The French brand L’Occitane was founded in 1976 and the company went public in 2010.
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Reinold Geiger plans to buy all the shares of the French cosmetics manufacturer L’Occitane and privatize the company. This was reported by Bloomberg citing sources.
Geiger is the company’s president and its largest shareholder. According to agency sources, he plans to attract funds from the Blackstone investment fund to buy the company. Bloomberg notes that Geiger is willing to buy shares at a price of HK$31 ($0.12).
In connection with a possible purchase of the company, as a result of which it will no longer be listed on the stock exchange, trading of L’Occitane shares on the Hong Kong Stock Exchange was suspended. L’Occitane went public in 2010.
Author:
Kirill Bilyk
Source: RB
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