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Beauty Industry, Mergers and Acquisitions

L’Occitane Begins to Re-Privatize

Controlling shareholder, Reinold Geiger prepares to delist L’Occitane International from the Hong Kong Stock Exchange.

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By: Rachel Klemovitch

Assistant Editor

L’Occitane International is preparing to go private by delisting from the Hong Kong Stock Exchange. 
 
According to L’Occitane, 91.97% of disinterested shareholders had tendered their shares. This allows billionaire owner Reinold Geiger to make the company private.
 
Geiger initially announced his intention to privatize the company in April by bidding on outstanding shares of the company. 
 
With this shareholder approval, L’Occitane Holding SA, a wholly-owned subsidiary, will acquire the remaining shares which will lead the way to the final steps of privatizing the company.
 
L’Occitane announced it will release compulsory acquisition notices for any shareholders who have not agreed to sell on August 6.
 
Upon completion of the acquisition, L’Occitane will be delisted from the Hong Kong Stock Exchange. 

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