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Courtin Family Prepares Tender Offer For Clarins

The Courtin-Clarins family, majority shareholders of Groupe Clarins, plans to buy out the company's minority stakeholders.

PARIS - The Courtin-Clarins family, majority shareholders of Groupe Clarins, plans to buy out the company’s minority stakeholders for 842.79 million euros, or $1.327 billion at current exchange, according to a filing with Authorité des Marchés Financiers (AMF), France’s stock market watchdog.

That represents about a 29 percent premium on the price Clarins stock closed at early Thursday afternoon, when trading in the stock was suspended on the Paris Bourse.

The buyout is to be made through the Courtin-Clarins family holding company, Financière FC. On Friday morning, Financière FC filed a tender offer with the AMF.

According to the AMF filing, Financière FC proposes to pay 55.50 euros, or $87.39 at current exchange, for each of the 15.185 million shares publicly held. (This represents 37.26 percent of Clarins’ capital.)

As reported, when Clarins suspended trading, the price of the shares was at 43.72 euros, or $68.83, up 1.67 percent versus Wednesday’s close.

Financière FC has called a press conference in Paris on Monday at 9 a.m. “on the occasion of the operation initiated by the Courtin family.”