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THE WHAT? Blackstone is claimed to be finishing up due diligence upfront of creating a suggestion to purchase out L’Occitane. The personal fairness agency is rumored to be working with the French pure cosmetics agency’s Chairman, Reinold Geiger, to organize a joint bid.
THE DETAILS In response to a report printed by Bloomberg, shares within the proprietor of Elemis and Sol de Janeiro surged 15 % on the again of the whispers. The corporate is valued at roughly US$5.4 billion.
THE WHY? Each firms declined to remark when contacted by Bloomberg. Geiger owns greater than 70 % of L’Occitane through an funding automobile, the information company reveals, and has thought-about taking the agency personal in an effort to relist in Europe.
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