Clarins Intends to Go Private

Jul 2, 2008 | Contact Author | By: Jeff Falk
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Title: Clarins Intends to Go Private
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Clarins confirmed its intention to go private at a press conference held in Paris on July 2. The company requested the suspension of its shares on the French stock exchange on July 1. According to reports, the Courtin-Clarins family, which owns 64.9% of the equity, plans to buy out the minority shareholders’ collective interests and then delist from the stock exchange.

According to a filing last Friday with French markets regulator AMF (Autorité des Marchés Financiers), €55.50 will be offered, per share, for the 15.2 million shares (37.26 % of the capital) not controlled by the family. Courtin-Clarins stated that the offer will run from July 18 to September 5. Clarins shares are expected to resume trading the week of July 7.