Goldman Sachs Alternatives and Blackstone Complete Investment to Support Privatization of L’Occitane International S.A.
Supported by a commitment by Goldman Sachs Alternatives and Blackstone of up to €1.551 billion, on 29 April 2024 the Offeror announced a tender offer to acquire and delist the Company for HK$34.00 per share, representing a compelling premium for shareholders. The offer has been declared unconditional as of 23 July 2024, with a compulsory acquisition of remaining shares to follow. Upon delisting, the Company will operate as a privately held business. Following completion of the take-private, Reinold Geiger and other existing shareholders will remain controlling shareholders of the Company.
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
About Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $450 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, hedge funds and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has over $2.8 trillion in assets under supervision globally as of December 31, 2023. Follow us on LinkedIn.
Contacts:
Goldman Sachs Alternatives
Joseph Stein
+44 0207 774 4080