Hong Kong-listed L'Occitane International 's chairman and controlling shareholder will take the French skin-care firm private, valuing it at a maximum of HK$13.91 billion (US$1.78 billion), the company said on Monday.
As part of the deal, Austrian billionaire Geiger's investment holding company L'Occitane Groupe in Luxembourg will pay HK$34 for each share not already owned, representing a 30.8% premium to the stock's last close of HK$26 on Feb. 5.
L'Occitane Groupe owned 72.39% of the cosmetics company at March-end.
The investment holding firm does not intend to increase the offer price for the deal, which comes a few months after Geiger shelved a buyout attempt for the company.
J.P. Morgan will be the financial advisor for L'Occitane Groupe.
Persons:
Reinold Geiger, Geiger, L'Occitane International's, J.P, Morgan
Organizations:
HK, Reuters, U.S, L'Occitane Groupe
Locations:
Hong Kong, Austrian, Luxembourg