Publicis said a daughter of its founder will be allowed to sell her shares in a family holding company that controls a large block of the French agency network's stock. Under a settlement announced in Paris, the daughter, Michele Bleustein-Blanchet, and her nephew will sell their 44.52% holding in Somarel, the holding company formed by Publicis founder Marcel Bleustein-Blanchet. He died in 1996. Somarel controls 47.76% of the voting shares of Publicis. The Somarel stock to be sold will be placed with institutional investors, Publicis management and employees and Ms. Bleustein-Blanchet's sister, Elisabeth Badinter, who heads the boards of both Somarel and Publicis.
Copyright April 1998, Crain Communications Inc.