admin French cosmetics giant L’Occitane could be taken private by its controlling shareholder ahead of a potential European listing, according to a report.
L’Occitane CEO and chair Reinold Geiger is considering an offer of about 35 Hong Kong dollars for each L’Occitane share he doesn’t already own, Bloomberg News reports, citing sources familiar with the matter.
The deal would value L’Occitane at 6.5 billion dollars, according to Bloomberg.
Geiger has also held talks with advisers about potentially re-listing the group on a European exchange as soon as next year, sources added.
L’Occitane, which is listed in Hong Kong, entered a trading halt on Wednesday pending an announcement from the company.
Reuters, which also reported on the news, said L’Occitane did not respond to a request for comment.
