L’Occitane owner in advanced talks for $6.5 bln buyout - Bloomberg News
Aug 9 (Reuters) - L'Occitane International SA's controlling shareholder is in advanced talks on a potential deal to take the skincare company private at a valuation of around $6.5 billion, Bloomberg News reported on Wednesday.
Billionaire Chairman Reinold Geiger has been discussing a possible offer of about HK$35 for each L'Occitane share he doesn't already own, the report said, citing people familiar with the matter. The proposed bid represents a 37% premium to the company's closing price on Tuesday, according to Refinitiv data.
Geiger has also been speaking to advisers about the possibility of re-listing the skincare products group on a European exchange as soon as next year, the report said.
L'Occitane did not immediately respond to a Reuters' request for comment.
(Reporting by Shivani Tanna in Bengaluru; Editing by Dhanya Ann Thoppil)
