L’Occitane Announces Privatisation Offer
The transaction, which includes funding from Blackstone and Goldman Sachs, values the company at $6.4 billion.
Quiksilver Inc., the surfwear retailer, is in talks with banks for a loan that would help finance its business after it exits bankruptcy.
Oaktree Capital Management LP is close to hiring AlixPartners LLP to advise on its efforts to take over Quiksilver Inc., according to people with knowledge of the matter.
Quiksilver Inc., the California surfwear chain that lost 79 percent of its market value this year, filed for bankruptcy with a plan to hand control over to lender Oaktree Capital Management LP.
Quiksilver Inc., the surfwear chain that has lost more than three-quarters of its value this year, is looking for a buyer that could help keep the company afloat.
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The transaction, which includes funding from Blackstone and Goldman Sachs, values the company at $6.4 billion.
The Lithuania-based group said growth had been spurred by entering new markets including Denmark and Finland and an expansion into luxury fashion.
The Barcelona-based firm set the price guidance at €24.50 per share, according to terms seen by Bloomberg News, giving the company an implied market value of €13.9 billion ($14.9 billion).
Chairman Reinold Geiger’s investment holding company, L’Occitane Groupe SA, is considering an offer for the Hong-Kong listed firm’s shares he does not already own, at HK$33 to HK$34 per share, the report said, citing people familiar with the matter.
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
The company confirmed in January that it planned to restart activities in Venezuela in the first half of 2024 with local partner Grupo Futura.
The move means Shein could be liable for fines of as much as 6 percent of global revenue for violating the law, designed to curtail the spread of illegal content online.
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.