L’Occitane International's controlling shareholder is considering a move to take the skincare company private, sources have said.
Billionaire chairman Reinold Geiger is studying the possibility of buying out minority shareholders of the Hong Kong-listed group, the sources said.
He has been exploring various financing options for the potential deal.
L’Occitane's shares rose as much as 9.8 per cent in early Wednesday trading, the biggest advance in a month.
The stock has fallen by 14 per cent over the past 12 months, giving the company a market value of about HK$33 billion ($4.2 billion).
An investment vehicle ultimately controlled by Mr Geiger owns more than 70 per cent of L’Occitane, exchange filings show.
The company’s portfolio includes L’Occitane en Provence, inspired by the lavender fields of southern France, and Melvita organic beauty products.
It also owns the Elemis line of collagen creams, as well the Grown Alchemist range of anti-ageing serums and Korean skincare brand Erborian.
L’Occitane, which is based in Luxembourg and Geneva, and its backers raised $787 million in the company’s 2010 initial public offering, according to data compiled by Bloomberg.
It listed in Hong Kong at a time when a number of western consumer companies were seeking to boost exposure to the fast-growing consumer market in China.
Over the past five years, an average of $1.7 million in L’Occitane stock has changed hands daily, according to data compiled by Bloomberg.
Mr Geiger may consider relisting L’Occitane in Paris or another European market at a later date, some of the sources said.
Deliberations are continuing and there is no certainty he will decide to proceed with a transaction, they said.
Representatives for L’Occitane did not respond to several requests for comment. Mr Geiger did not immediately reply to emailed queries.
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4,872 matches
1,942 teams
116 pitches
76 nations
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
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The biog:
From: Wimbledon, London, UK
Education: Medical doctor
Hobbies: Travelling, meeting new people and cultures
Favourite animals: All of them
The biog
Favourite colour: Brown
Favourite Movie: Resident Evil
Hobbies: Painting, Cooking, Imitating Voices
Favourite food: Pizza
Trivia: Was the voice of three characters in the Emirati animation, Shaabiyat Al Cartoon
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
UAE players with central contracts
Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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Position: legal consultant with Al Rowaad Advocates and Legal Consultants
The specs: 2018 Jeep Compass
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Engine: 2.4L four-cylinder
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AUSTRALIA SQUAD
Aaron Finch (captain), Ashton Agar, Alex Carey, Pat Cummins, Glenn Maxwell, Ben McDermott, Kane Richardson, Steve Smith, Billy Stanlake, Mitchell Starc, Ashton Turner, Andrew Tye, David Warner, Adam Zampa
UAE currency: the story behind the money in your pockets
Race 3
Produced: Salman Khan Films and Tips Films
Director: Remo D’Souza
Cast: Salman Khan, Anil Kapoor, Jacqueline Fernandez, Bobby Deol, Daisy Shah, Saqib Salem
Rating: 2.5 stars
Company%20Profile
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One-and-a-half out of five stars
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Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Children who witnessed blood bath want to help others
Aged just 11, Khulood Al Najjar’s daughter, Nora, bravely attempted to fight off Philip Spence. Her finger was injured when she put her hand in between the claw hammer and her mother’s head.
As a vital witness, she was forced to relive the ordeal by police who needed to identify the attacker and ensure he was found guilty.
Now aged 16, Nora has decided she wants to dedicate her career to helping other victims of crime.
“It was very horrible for her. She saw her mum, dying, just next to her eyes. But now she just wants to go forward,” said Khulood, speaking about how her eldest daughter was dealing with the trauma of the incident five years ago. “She is saying, 'mama, I want to be a lawyer, I want to help people achieve justice'.”
Khulood’s youngest daughter, Fatima, was seven at the time of the attack and attempted to help paramedics responding to the incident.
“Now she wants to be a maxillofacial doctor,” Khulood said. “She said to me ‘it is because a maxillofacial doctor returned your face, mama’. Now she wants to help people see themselves in the mirror again.”
Khulood’s son, Saeed, was nine in 2014 and slept through the attack. While he did not witness the trauma, this made it more difficult for him to understand what had happened. He has ambitions to become an engineer.
Getting there
The flights
Flydubai operates up to seven flights a week to Helsinki. Return fares to Helsinki from Dubai start from Dh1,545 in Economy and Dh7,560 in Business Class.
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Golden Crown Igloos in Levi offer stays from Dh1,215 per person per night for a superior igloo; www.leviniglut.net
Panorama Hotel in Levi is conveniently located at the top of Levi fell, a short walk from the gondola. Stays start from Dh292 per night based on two people sharing; www. golevi.fi/en/accommodation/hotel-levi-panorama
Arctic Treehouse Hotel in Rovaniemi offers stays from Dh1,379 per night based on two people sharing; www.arctictreehousehotel.com
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Engine 1,745cc Milwaukee-Eight v-twin engine
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