-- L’Occitane International SA’s billionaire owner Reinold Geiger is nearing a deal to take the skin-care company private with funding help from Blackstone Inc., people familiar with the matter said, potentially ending its 14-year run on Hong Kong’s stock exchange.The world’s largest alternative asset manager may provide debt financing for the buyout, the people said, asking not to be identified as the information isn’t public. An announcement may come as soon as in the coming days, they said.
L’Occitane was founded in 1976 by Frenchman Olivier Baussan, who started out making essential oils from plants like lavender in the Provence countryside and selling them at local markets. Geiger became a minority shareholder in 1994, but has said the company’s poor performance prompted him to start working there in a bid to safeguard his investment.He expanded L’Occitane globally, saying he decided to move into Asia after being impressed by the region’s work ethic.
LONDON -Oil prices edged higher on Tuesday, after hopes diminished that negotiations between Israel and Hamas would lead to a ceasefire in Gaza, and on Mexico's plan to remove more crude from the global market. Brent crude futures rose 28 cents, or 0.31%, to $90.66 a barrel by 1002 GMT. U.S. West Texas Intermediate crude futures were up 24 cents or 0.28% at $86.67.Bloomberg has learned that Blackstone Inc.
Trump Media CEO Devin Nunes says Truth Social parent company is ‘well positioned’ in response to criticism over profitability
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »