PARIS — The Autorité des Marchés Financiers, France’s stock market regulator, gave the green light Friday to Financière FC’s tender offer on Groupe Clarins. As reported, in late June, Financière FC, the holding company of the Courtin-Clarins family majority shareholders in Clarins, filed a public offer with the AMF proposing to pay 55.50 euros, or $86.36 at current exchange, a share for the stake it doesn’t already own. On July 31, Financière FC owned 55.17 percent of Clarins’ capital and 62.16 percent of its voting rights. The Courtin-Clarins family will bring its shares, representing 33.63 percent of Clarins’ capital, to the offer, the AMF stated. The offer could reportedly run from Wednesday to Sept. 16.
This story first appeared in the August 4, 2008 issue of WWD. Subscribe Today.