By  on June 30, 2008

PARIS — It looks ever more probable Groupe Clarins will become private.

During a press conference held here this morning, the Courtin-Clarins family — majority shareholders in Clarins — announced an offer worth 814.2 million euros, or $1.28 billion at current exchange, to take the company private, as expected.

Financière FC, the Courtin-Clarins family holding company, on Friday morning filed a tender offer with the Autorité des Marchés Financiers (AMF), France’s stock market watchdog, proposing to pay 55.50 euros, or $87.45, for each of the 14.7 million shares not held by Financière FC. This represents 36 percent of Clarins’ capital. The price the family would pay represents about a 29 percent premium to where the stock closed early Thursday afternoon, when the company suspended trading in its shares. The share price at that point was 43.72 euros, or $68.86 at current exchange, up 1.67 percent versus Wednesday’s close.

The tender offer is slated to start July 18 and end Sept. 5.

It is expected Clarins' stock will resume trading July 7, according to company executives.

For complete coverage, see Tuesday's WWD.

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