—— Blackstone Backs L’Occitane Buyout; Google’s Gemini Approaches Commercial Use; Taiwan Firms Eye Overseas HQs; Blue Owl Launches Real Estate Strategy; EQT Sells Data Company; Musk Predicts Superhuman AI by 2025; FAA Probes Boeing Again
1. Blackstone Backs L’Occitane Buyout
Billionaire founder Reinold Geiger is reportedly close to taking L’Occitane International SA private with loan support from Blackstone, ending the skincare company’s 14-year listing in Hong Kong.
L’Occitane shares were suspended from trading on Tuesday. On Monday, they closed at HK$29.5.
Geiger is said to be preparing a buyout offer of HK$31.2 per share and has arranged financing. The company has a market cap of HK$43.6 billion, and Geiger owns over 70% of its shares.
ARMO considers China the most important growth engine in Asia.
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2. Google’s Gemini Approaches Commercial Use
Google Cloud CEO Thomas Kurian announced on Tuesday that the company has rolled out a series of software updates enabling enterprise users to utilize Gemini for creating ads, tackling cybersecurity threats, and generating short videos and blogs.
Gemini will now integrate real-time Google Search results to improve answer accuracy and relevance.
Despite lagging behind Microsoft and Amazon in cloud computing, Google plans to double down on this business line.
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3. Taiwan Firms Eye Overseas Headquarters
A partner from KPMG Taiwan’s family office division says many Taiwanese manufacturing firms are considering setting up overseas headquarters to mitigate geopolitical risks and maintain operational continuity during emergencies.
Taiwanese electronics and components suppliers have long played a critical role in global supply chains across sectors like industrial automation, medical devices, and EVs.
Companies exploring overseas HQs reportedly include Lite-On and electronics maker Qisda.
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4. Blue Owl Launches Real Estate Strategy
Alternative investment firm Blue Owl Capital will acquire Prima Capital Advisors for $170 million to launch a new real estate investment strategy. Former GIC executive Jesse Hom will lead the new division.
Prima specializes in commercial mortgage-backed securities (CMBS). The acquisition will be funded through $157 million in equity and $13 million in cash.
Prima’s staff will join Blue Owl after the deal closes, expected in Q2 or Q3 this year.
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5. EQT Sells Data Firm Rimes Technologies
Swedish private equity firm EQT AB has agreed to sell Rimes Technologies to Five Arrows, the alternative asset arm of Rothschild & Co., according to Bloomberg.
While the deal value was not disclosed, Rimes is estimated to be worth around $870 million.
Rimes, founded in 1996, provides data and investment tools to major clients including BNY Mellon and Shell, and serves 60 of the world’s top 100 asset managers.
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6. Musk Predicts Superhuman AI by 2025
Elon Musk said he expects artificial intelligence to surpass any human’s intelligence by the end of 2025, provided power and hardware can keep up with AI’s rapid progress.
Musk is highly optimistic about artificial general intelligence (AGI), saying it will soon outperform humans across all domains. He previously projected AGI by 2029, though many of his bold predictions—like self-driving cars and Mars rockets—have missed timelines.
DeepMind co-founder Demis Hassabis also forecasts AGI around 2030.
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7. FAA Investigates Boeing After Whistleblower Claims
The New York Times reports that the U.S. Federal Aviation Administration (FAA) is investigating safety concerns raised by a whistleblower engineer working on Boeing’s 787 Dreamliner.
The engineer claims the aircraft’s body attachments are flawed and could deteriorate over time. Boeing’s repair and testing procedures are also allegedly inadequate.
Boeing’s spokesperson said engineers are conducting a full review under FAA oversight.
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This content is sourced from Financial Times, Bloomberg, and The Real Deal, among other financial news outlets.