Hong Kong-listed L’Occitane International SA confirmed that its controlling shareholder is contemplating a potential deal to take the skincare company private, but said no definitive agreement has gone through in this regard.
The Luxembourg- and Geneva-headquartered firm, however, said the speculated price contained in the media reports of about HK$35 for each L’Occitane share is “false and without basis”.
The company said if a deal were to go through, the potential offer price would be no less than HK$26.00 per share.
“Nevertheless, the controlling shareholder is still considering its options, including the option of not pursing any transaction at all, depending on market conditions and pending a feasible financing and structure option,” the company said in an exchange filing.
Shares in Luxembourg- and Geneva-headquartered firm were halted after Bloomberg News reported that billionaire Chairman Reinold Geiger was in advanced talks to take L’Occitane International private, valuing the firm at around $6.5 billion.
Geiger has been speaking to advisers about the possibility of relisting the skincare products group on a European exchange as soon as next year, sources had told Reuters.
In May-end, Geiger’s investment holding company, L’Occitane Groupe SA, owned 72.7% of the skincare firm.
The company has made an application to the stock exchange for the resumption of trading in shares due to take effect on Aug. 14, it said.
Source: Reuters.com