Global luxury retailer L’Occitane International’s “disinterested shareholders” have tendered their shares, surpassing “the required threshold for conducting a squeeze-out of shares not tendered to the share offer”, according to a July 23 company media release.
The offer was made in April 2024 for the shares chairman and controlling shareholder Reinold Geiger doesn’t own for HK$13.9 billion $1.78 billion. He owned around 72.4% of the Luxembourg-headquartered firm's shares around March 2024.
As a result, L’Occitane Holding, a wholly-owned subsidiary of the company’s controlling shareholder will proceed with the compulsory acquisition of the remaining shares, leading to the final steps in the company’s privatisation...
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