Arendt & Medernach S.A. advised L’Occitane Groupe S.A. and L’Occitane Holding S.A. on the successful privatisation and delisting from the Hong Kong Stock Exchange of L’Occitane International S.A.

Experts involved in the Deal:

Arendt and Skadden (Paris and Hong Kong) represented L’Occitane Groupe S.A., L’Occitane Holding S.A. and other group companies (“L’Occitane“) in connection with the voluntary conditional general offers and related Luxembourg and Hong Kong driven squeeze-out and delisting of L’Occitane International S.A., a global multi-brand group specialising in the manufacture and retail of premium beauty and wellness products (the “Transaction“).

Arendt was in a lead position as co-counsel to L’Occitane on various aspects of the Transaction, including corporate, tax, financing, squeeze-out and dispute resolution related matters. The Transaction was financed through a combination of external debt facilities provided by Crédit Agricole Corporate and Investment Bank (CA-CIB) and financing from Blackstone and Goldman Sachs Alternatives, totaling approximately EUR 1.5 billion.

The initial acquisition offer made by L’Occitane Holding S.A. to minority shareholder of L’Occitane International S.A. was made for cash consideration and has subsequently been updated to provide minority shareholders of L’Occitane International S.A. with the option to either receive cash or exchange their shares for shares in L’Occitane Holding S.A..

The voluntary general offer became unconditional on 6 August 2024, and consequently L’Occitane International S.A. was officially delisted from the Hong Kong Stock Exchange as of 15 October 2024.

Key team members included:

• Corporate Team: Partner – Bob Calmes, Counsel – Caroline Halembert, Counsel – Messaouda Benbouzid, Associate – Thomas Blouin, and Associate – Jeffrey Kerger
• Tax Team: Partner – Alain Goebel, Counsel – Arnaud Huguenel, and Associate – Hendrik van der Grift
• Finance Team: Partner – Francois Warken, Partner – Lynn Alzin, Counsel -Milos Vulevic, and Associate – Alexandra Puszczynski
• Dispute Resolution Team: Partner – Clara Mara-Marhuenda, Counsel – Séverine Hamm, and Senior Associate – Charles Ries

This pivotal transaction underscores Arendt & Medernach’s expertise in handling pioneering, complex, multi-jurisdictional legal matters across a variety of disciplines.