Takeover rumors at L Occitane: shares in focus

Takeover rumors at L Occitane: shares in focus

Shares of French cosmetics company L'Occitane are coming into investors' focus on Tuesday due to a possible impending takeover by Blackstone. L’Occitane shares have been temporarily suspended from trading on the Hong Kong Stock Exchange. At the time of the suspension, the stock was trading 3.59 percent lower than on the previous trading day.

According to reports, the US private equity group Blackstone is close to reaching an agreement with the billionaire owner of L'Occitane, Reinold Geiger, to take over the cosmetics company. There is speculation that following the takeover, L'Occitane could be delisted from the Hong Kong Stock Exchange. Blackstone may plan to use debt financing for the acquisition. It is expected that an announcement could be made in the coming days.

Last September, Reinold Geiger, L'Occitane's main shareholder, rejected a deal to privatize the company, which led to significant losses in L'Occitane's share price. Back in February, it was reported that Blackstone was considering a takeover bid for L'Occitane, which led to a rise in the share price. This year, L’Occitane shares have already recorded a significant increase on the Hong Kong stock exchange.

It remains to be seen how Blackstone's potential takeover will impact L'Occitane. Investors are eagerly following developments surrounding the possible takeover and the future positioning of the French cosmetics company.