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L'Occitane owner taps Blackstone for buyout financing

 A L'Occitane en Provence logo is seen on a shop in Paris, France, on Monday, April 19, 2010.

A L'Occitane en Provence logo is seen on a shop in Paris.

L'Occitane owner Reinold Geiger is making a second bid to take the skin care company private with the financial help of Blackstone, Axios confirms.

Why it matters: The deal, if successful, would set the stage for a succession plan for the company.

Zoom in: Blackstone would provide debt financing toward Geiger's efforts, as first reported by Bloomberg and Reuters.

  • Bloomberg first reported in February that Blackstone was mulling partnering with Geiger on a take-private deal.
  • The $5.55 billion French company suspended trading in Hong Kong Tuesday ahead of an announcement related to takeover codes.

Catch up quick: Geiger brought up the prospect of a potential buyout last year but nixed those plans last September.

  • Geiger stepped down from the CEO role in 2021 and was succeeded by André J. Hoffmann.
  • Earlier this year, Hoffmann was replaced by new CEO Laurent Marteau.
  • Two of Geiger's sons hold senior management positions, per Bloomberg.

L'Occitane didn't provide a comment and instead referred to the regulatory statement.

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