Natura &Co announced that its Board of Directors has approved a plan to end the company's secondary listing of American Depositary Shares (ADSs) on the New York Stock Exchange (NYSE) while maintaining its primary listing of common shares on the B3 stock exchange in São Paulo.

In line with the company's long-term strategic objectives of simplifying operations, Natura &Co has decided to discontinue its secondary listing on the NYSE, as the vast majority of Natura &Co trading activity is concentrated on the B3 stock exchange. The decreasing trading volume of Natura &Co ADRs on the NYSE no longer makes maintaining the listing a compelling option.

The delisting is expected to be effective 10 days after the filing with the U.S. Securities and Exchange Commission and Natura &Co expects the NYSE to suspend trading in the ADSs on or about February 9, 2024.

Fabio Barbosa, Chief Executive Officer of Natura &Co said in a statement,  "The planned delisting of Natura &Co from the New York Stock Exchange is consistent with our long-term strategy for the business. This move underscores our continued focus on simplifying our operations to reduce complexity. We thank Natura &Co investors who held ADRs and look forward to welcoming many of them as shareholders on the B3 market. Upholding our dedication to transparency, we will maintain our high disclosure standards through our listing in Brazil."

Last November Munich-based private equity firm Aurelius bought ethical beauty retailer The Body Shop from the Brazilian beauty conglomerate in a £207 million ($254 million) deal which followed the divestment of Australian beauty brand Aesop to L'Oréal earlier in the year in a $2.5 billion deal.

The divestments and delisting represent a further retreat from global ambitions and a need to cut costs for Natura after a push for international expansion in the last decade. Natura will refocus its strategic priorities, accelerating the integration of the Natura and Avon brands in Latin America and expanding Avon International.