{"id":1932,"date":"2024-04-09T08:28:25","date_gmt":"2024-04-09T08:28:25","guid":{"rendered":"https:\/\/internationalpulse.net\/?p=1932"},"modified":"2024-04-09T08:28:25","modified_gmt":"2024-04-09T08:28:25","slug":"french-beauty-brand-loccitane-halts-hong-kong-trading-over-takeover","status":"publish","type":"post","link":"https:\/\/internationalpulse.net\/?p=1932","title":{"rendered":"French beauty brand L’Occitane halts Hong Kong trading over takeover"},"content":{"rendered":"

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L’Occitane on Tuesday halted trading of its Hong Kong-listed shares pending an announcement of takeover – Copyright AFP Peter PARKS<\/small><\/em><\/p>\n

French beauty company L\u2019Occitane on Tuesday halted trading of its Hong Kong-listed shares pending an announcement of a takeover, according to a company notice to the bourse.<\/p>\n

The buyout would be a take-private deal jointly launched by US private equity giant Blackstone and L\u2019Occitane\u2019s billionaire owner Reinold Geiger, Bloomberg reported.\u00a0<\/p>\n

The $5.55 billion Hong Kong-listed L\u2019Occitane International rejected last September a buyout offer from Geiger\u2019s investment holding company, L\u2019Occitane Group.<\/p>\n

At the time, L\u2019Occitane Group held more than 72 percent of L\u2019Occitane International.<\/p>\n

Bloomberg reported in February that Blackstone had been conducting preliminary due diligence for a potential bid for L\u2019Occitane International.\u00a0<\/p>\n

Founded in France\u2019s southern region of Provence in 1976, the luxury cosmetics retailer went public in Hong Kong in 2010.<\/p>\n

Its share price peaked in 2022 at HK$32.45 ($4.14), more than double its IPO price.\u00a0<\/p>\n<\/p><\/div>\n

French beauty brand L’Occitane halts Hong Kong trading over takeover
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#French #beauty #brand #LOccitane #halts #Hong #Kong #trading #takeover<\/p>\n","protected":false},"excerpt":{"rendered":"

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