L'Occitane to go private in blow to Hong Kong bourse's global image

HONG KONG -- French cosmetics brand L'Occitane International is set to withdraw its listing from the Hong Kong Exchange, meaning the bourse stands to lose one of its few non-local, non-mainland companies at a time when it is promoting itself globally as a place to go public.

L'Occitane said in a filing late Monday night that its controlling shareholder, led by Chairman Reinold Geiger, will move to privatize the company in a financial collaboration with Credit Agricole Corporate and Investment Bank, Blackstone and Goldman Sachs.