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Black stone (NYSE:BX) is close to closing a deal to buy skincare maker L’Occitane International SA (OTCPK:LCCTF).
The private equity firm may team up with billionaire L’Occitane owner Reinold Geiger for the takeover, according to a Bloomberg report late Monday, which cited people familiar with the matter. A the announcement could take place in the next few days.
Trading in L’Occitane (OTCPK:LCCTF) was suspended ahead of Tuesday’s trading in Hong Kong, pending an announcement regarding takeover codes. L’Occitane has a market capitalization of approximately $5.6 billion.
According to the report, although the talks are at an advanced stage, they could still be delayed or fail to materialize. Blackstone (BX) could also be a minority shareholder in any acquisition, one of the people told Bloomberg.
News of a potential deal comes after Bloomberg reported in February that Blackstone (BX) was considering a bid for L’Occitane.