04.09.24
L’Occitane International SA’s billionaire owner Reinold Geiger is rumored to be nearing a deal to take the skin-care company private with funding aid from Blackstone Inc.
Blackstone is among the world's largest alternative asset managers, with a reported $1 trillion in assets under management.
The move would potentially end the Happi International Top 30 Company’s 14-year presence on Hong Kong’s stock exchange.
A company document obtained by HAPPI stated that the board of directors of L’Occitane International S.A. announced that trading in the shares of the company will be halted at its request on Tuesday, April 9, 2024 pending the publication of an announcement pursuant to the code on takeovers and mergers, which constitutes inside information of the company.
Check back on HAPPI on this developing story.