The billionaire owner of L’Occitane is contemplating taking the cosmetics business private after more than 10 years since it floated on the Hong Kong stock exchange.
Reinold Geiger, who controls three-quarters of the group, is said to be in advanced talks of a take-private deal.
The cosmetics group was founded by Olivier Baussan in 1976 and operates about 2,774 stores in 90 countries. It also owns luxury skincare brand Elemis.
Geiger was the chief executive of L’Occitane for 25 years before stepping down in 2021. He remains as the group’s chairman and executive director.
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L’Occitane said in an announcement to the Hong Kong stock exchange that reports of a takeover deal included a “misleading timetable and baseless rumour about the offer price”.
It confirmed that Geiger had indicated to executives that any offer for the shares he did not own would be made at no less than HK$26 (£2.6) per share.
The group said: “The controlling shareholder is still considering its options, including the option of not pursuing any transaction at all, depending on market conditions and pending a feasible financing and structure option.
“The controlling shareholder has confirmed to the board that . . . no definite plans have been approved.”
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