The French champagne, hotels and luxury goods group, Taittinger, has announced it is to streamline its group structure by acquiring all outstanding investment certificates in Societe du Louvre, its hotels and luxury goods division.

Taittinger said it would offer 22 Societe du Louvre shares for every 25 investment certificates.

"The offer aims to simplify Societe du Louvre's capital by allowing the Louvre shares to be united with the investment certificates brought to the offer and with the certificates of voting rights held by Taittinger," the company said.