L’Occitane International SA’s controlling shareholder is considering a move to take the skin-care company private, people with knowledge of the matter said.
Billionaire Chairman Reinold Geiger is studying the possibility of buying out minority shareholders of the Hong Kong-listed group, the people said, asking not to be identified because the information is private. He’s been exploring various financing options for the potential deal, according to the people.
Shares of L’Occitane rose as much as 9.8% in early Wednesday trading, the biggest advance in a month. The stock has fallen 14% over the past 12 months, giving the company a market value of about HK$33 billion ($4.2 billion). A vehicle ultimately controlled by Geiger owns more than 70% of L’Occitane, exchange filings show.
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