Sept 4 Reuters Hong Konglisted skincare specialist L39;Occitane International SA said on Monday its controlling shareholder had decided against a potential deal to take the company private, curbing speculation of a possible European listing.

L39;Occitane updated the market last month about a potential buyout offer from Chairman Reinold Geiger39;s investment holding company, L39;Occitane Groupe SA, at no less than HK26.00 3.32 per share.

Sources had earlier told Reuters that Geiger had also been speaking to advisers about the possibility of relisting the skincare products group on a European exchange as soon as next year.

Hong Kong has recently emerged as an epicentre of buyout deals, with a range of companies having depressed valuations.

Imax Corp, the bigscreen cinema company, is set to assume full control of its listed Chinese entity, while snack maker Dali Foods Group also received a takeover proposal in June.

L39;Occitane Groupe SA owned 72.5 of the skincare firm at the end of May.

The company is listed in Hong Kong at a time when a number of firms from the West are looking to boost exposure to the rapidly growing Chinese market.

Shares in the Luxembourg and Genevaheadquartered company were placed on a trading halt on Monday.

It applied for a resumption of trading in its shares on the stock exchange alongside the update to the market.

Last month Bloomberg News reported that Geiger was discussing a possible offer of about HK35 for each L39;Occitane share he…