FRANCE. French beauty house Clarins is set to go private again with the Courtin-Clarins family, who own 64.9% of the equity, wanting to buy the minority shareholders’ collective interests and then delist from the stock exchange, according to influential French media La Tribune today (click here for original French story).
The news follows yesterday’s suspension – at Clarins’ request – of the company’s shares on the French stock exchange. [UPDATE: Financiere FC, the family holding company which controls Clarins, said it will hold a news conference on Monday about the Courtin-Clarins family’s plans relating to the capital structure.]
As we reported soon after, Clarins shares stopped trading at €43.72, giving it a market capitalisation of approximately €1.8 billion. An official statement is pending.
The operation would cost Clarins up to €641 million, including a premium of +15-20% above the latest share price, La Tribune’s website said, without naming a source.
The family-controlled company has long been the subject of take-over speculation, particularly since the death in 2007 of its founder Jacques Courtin-Clarins.
The Estée Lauder Companies, PPR, LVMH, Procter & Gamble, and L’Oréal, among others, have all been cited as possible interested parties. To date the Courtin-Clarins family has repeatedly refuted suggestions that the group is up for sale.
Last week Clarins Group hit the headlines for other reasons, with the announcement of a major restructuring into two key divisions, and four geographical areas, in response to both “market issues and the demands of [its] development”.
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MORE STORIES ABOUT CLARINS GROUP
Clarins Group suspends share trading – 26/06/08
Clarins Group announces major reorganisation – 19/06/08
Clarins revamps UV Plus Day Screen High Protection – 08/05/08
