By  on September 8, 2008

PARIS — Pierre Fabre, founder, president and chief executive officer of Pierre Fabre SA, is taking steps to keep the company private.

Fabre plans to transfer — through the holding company Pierre Fabre Participation — 60 percent of his 89 percent stake in the dermo-cosmetics and pharmaceutical firm that generates 1.7 billion euros, or $2.4 billion at current exchange, annually, to the Pierre Fabre Foundation. That entity currently holds a 5 percent stake in Pierre Fabre SA.

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