L’Occitane Halts Trading in Hong Kong as Take-Private Bets Swell

L’Occitane Worldwide SA halted buying and selling in Hong Kong forward of an announcement which will spell out particulars on the French skincare firm’s potential take-private plan.

The agency mentioned in August that its controlling shareholder was contemplating a attainable deal to take the corporate personal with a minimal attainable provide of HK$26 ($3.31) per share. L’Occitane mentioned on the time that it hadn’t acquired a agency provide and no definitive agreements had been entered into.

Bloomberg Information has beforehand reported that L’Occitane’s chairman Reinold Geiger was learning the potential for taking the corporate personal, together with discussions for a possible take-private provide of as a lot as HK$35 per share. A car finally managed by Geiger owns greater than 70 % of L’Occitane, and he has been talking to advisers about the potential for relisting the agency on a European alternate as quickly as subsequent yr, in line with Bloomberg Information.

A take-private of the corporate would add to a collection of comparable offers in Hong Kong as valuations stay depressed. Chinese language snack maker Dali Meals Group Co. acquired a take-private proposal from its controlling shareholder in June, and big-screen cinema firm Imax Corp. can also be in search of to take full management of its listed Chinese language enterprise.

L’Occitane, which relies in Luxembourg and Geneva, and its backers raised $787 million within the firm’s 2010 preliminary public providing. It listed in Hong Kong at a time when quite a lot of Western shopper corporations have been in search of to spice up publicity to the fast-growing market in China. Hong Kong particular person traders ordered virtually 160 occasions the variety of L’Occitane shares reserved for them, making it one of the crucial standard IPOs on the time.

The corporate’s portfolio consists of L’Occitane en Provence, impressed by the lavender fields of southern France, and Melvita natural magnificence merchandise. It additionally owns the Elemis line of collagen lotions, in addition to the Grown Alchemist vary of anti-aging serums and Korean skincare model Erborian.

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L’Occitane Owner Said to Mull Buyout of $4 Billion Beauty Firm

Billionaire chairman Reinold Geiger is learning the potential for shopping for out minority shareholders of the Hong Kong-listed group.