Caribbean conglomerate CL Financial is to make a takeover offer for the remaining shares in French drinks group Belvedere after crossing the threshold of owning a third of the company, according to French share watchdogs.

CL Financial holds a total of 39.35% of Belvedere's shares and 32.05% of the voting rights, according to the AMF, France's financial regulator.

The takeover follows Belvedere's acquisition of 69.3% in domestic rival Marie Brizard and the launch of a buyout offer for the remainder of Marie Brizard shares.