L’Occitane International SA, the parent company of direct selling companies LimeLife by Alcone and Duolab, announced that the controlling shareholder for the company has decided against a deal that would have taken the company private.
The cancellation of plans for a potential buyout does not end speculation that the L’Occitane Group’s chairman Ronald Geiger might be considering relisting the company on a European exchange in 2024. Currently, the company is listed in Hong Kong, a strategy that has become increasingly common for companies seeking a heightened market presence in Asia.
Were the deal to progress, company representatives emphasized that the offer price would be no less than HK$26 per share, or $3.32.
