FRAMINGHAM, Mass. ( TheStreet) - Staples ( SPLS), the office products company, has offered to buy the 41.4% of Corporate Express Australia it didn't already own for almost 390 million Australia dollars ($358.7 million). Staples offered to buy Corporate Express Australia for A$5.60, a premium of about 25% over the closing price Tuesday. Staples said Wednesday the offer values Corporate Express Australia at A$1.0 billion on an equity value basis and A$1.1 billion on an enterprise value basis. Staples bought Corporate Express, the parent of Corporate Express Australia, about two years ago for about $2.3 billion. -- Reported by Joseph Woelfel in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.