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Blackstone (NYSE:BX) is nearing a deal to purchase skin-care maker L’Occitane International SA (OTCPK:LCCTF).
The private equity firm may join with L’Occitane billionaire owner Reinold Geiger for the takeover, according to a Bloomberg report late Monday, which cited people familiar with the matter. An announcement may happen as soon as in the coming days.
L’Occitane (OTCPK:LCCTF) trading was suspended before Tuesday trading in Hong Kong, pending an announcement related to takeover codes. L’Occitane has a market cap of about $5.6B.
Although talks are at an advanced stage, they could still be delayed or not come to fruition, according to the report. Blackstone (BX) may also be a minority shareholder in any buyout, one of the people told Bloomberg.
News of a potential deal comes after Bloomberg reported in February that Blackstone (BX) was considering an offer for L’Occitane.