L’Occitane International Provides Additional Information Regarding GA Disposal Agreement

MT Newswires Live06-05

L’Occitane International (HKG:0973) reported that the total payable amount to the company from the Grown Alchemist transactions, GA disposal agreement, and repayment or assignment of the shareholder loan amounts to 28.4 million euros, a Tuesday filing on the Hong Kong Exchange said.

Previously on March 28, the company had sold its 35% shares of Grown Alchemist to its subsidiary, the target company for about 3.4 million euros, to be paid on or before Sept. 30, making the target company the sole owner of Grown Alchemist.

On the same day, the company had agreed to sell its shares in the Target company, to Lavender among others for about 5.5 million euros, to be paid on or before Sept. 30.

The target company also owed an outstanding amount of 19.4 million euros to the company as a shareholder loan.

Price (HKD): $32.60, Change: $+0.05, Percent Change: +0.15%

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