Blackstone Inc. is nearing a deal to take L’Occitane International SA private, according to people familiar with the matter, potentially ending the global cosmetics company’s 14-year run on Hong Kong’s stock exchange.
The private equity firm may team up with L’Occitane billionaire owner Reinold Geiger for the buyout, said one of the people, who asked not to be identified as the information isn’t public. An announcement could come as soon as in the coming days, the people said. Trading of L’Occitane was suspended before Tuesday trading session began in Hong Kong, pending announcement related to takeover codes.