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THE WHAT? Blackstone is alleged to be poised to signal on the dotted line in a deal that may take, L’Occitane Group into non-public possession. Buying and selling of the pure magnificence model was suspended on Tuesday, with inventory closing at HK$29.50.
THE DETAILS In keeping with a report printed by Bloomberg, quoting sources ‘accustomed to the matter’, Blackstone will present debt financing to L’Occitane proprietor Reinold Geiger. Geiger is alleged to be mulling a proposal of HK$26 per share.
THE WHY? Each Blackstone and L’Occitane declined to remark when contacted by Bloomberg. The information company means that the transfer is a sign that Reinold has initiated a succession plan for the agency.
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