L’Occitane Group has financed the Public Tender offer for l’Occitane International S.A. for €2 billion

Paris – CFI is pleased to announce that it served as the advisor to L’Occitane Group S.A. in the financing of its public tender offer for L’Occitane International S.A., in order to acquire all shares of the company and delisting it from the Hong Kong Stock Exchange.

The offer price of 34 HKD per share values L’Occitane International S.A. at approximately €6 billion. CFI France has raised €2 billion to buy out all minority shareholders of the company. Of this €2 billion, €1.6 billion is provided as quasi-equity by Blackstone Inc. and Goldman Sachs Asset Management International, with an additional €400 million in debt from Crédit Agricole Corporate and Investment Bank (CA-CIB).

L’Occitane Group S.A., controlled by Reinold Geiger, who is already the majority shareholder of L’Occitane International S.A., initiated this operation to focus on the development of the Group’s brands, particularly L’Occitane en Provence, Sol de Janeiro, Elemis, and Erborian.

Jean-Marc Teurquetil, chairman and managing partner of CFI France stated, “Our team is proud to support L’Occitane Group in its strategic growth, particularly in this operation that will enable the development of its activities by becoming a private company, independent of the fluctuations of the Hong Kong Stock Exchange.”

CFI France has supported L’Occitane Group in its transformation of operations for several years.  Notably, it advised the Group during the strategic acquisition of ELEMIS for $900 million, the largest acquisition in its history, and during the sale of Pierre HERMÉ to Walter BUTLER in December 2021.

L’Occitane International revealed on 23 July 2024 that the minimum amount required for the offer to succeed was reached.