The Moulin family, historic shareholders in the GALERIES LAFAYETTE, has allied itself with BNP PARIBAS to launch a public exchange offer on the department store group and thereby bring about the failure of the hostile takeover by CREDIT MUTUEL, which had acquired 15.64% of the capital on the stock exchange. If the operation succeeds, the Moulins will control 62% equivalent of GALERIES and BNP PARIBAS will control the rest.