(Reuters) – Majority shareholder of cosmetics group L’Occitane International is in advanced talks to hammer out a potential deal to delist the company ahead of a potential IPO in Europe, according to two people familiar with the issue. question.
The sources preferred to remain anonymous due to the sensitivity of the issue. L’Occitane did not respond to a request for comment.
The takeover would value the company at $6.5 billion (5.9 billion euros), Bloomberg News reported earlier on Wednesday.
L’Occitane CEO, billionaire Reinold Geiger, has discussed a possible offer of HK$35 per L’Occitane share on the stake he does not yet own, Bloomberg reported. citing a source familiar with the matter.
The proposed offer represents a 37% premium to the company’s closing price on Tuesday, according to data from Refinitiv.
The L’Occitane title was suspended on the Hong Kong Stock Exchange on Wednesday pending a press release from the company.
According to sources at Reuters, Reinold Geiger has also discussed with advisers the possibility of re-listing L’Occitane in Europe as early as next year.
L’Occitane has been listed in Hong Kong since 2010. It was then one of the first Western companies to enter the Asian financial center.
(Reporting Kane Wu in Hong Kong and Scott Murdoch in Sydney, with contributions from Shivani Tanna in Bangalore; Camille Raynaud, editing by Blandine Hénault)
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