Wendel to sell 5.3% of Saint-Gobain

Investment group Wendel is reported to be selling 30 million shares of French group Saint-Gobain, which represents 5.3% of the capital of the group. Saint-Gobain will buy one-third of the stake, according to a press release. The portion is worth around €1.2 billion at current share prices. The operation will translate as an accounting loss of around €220 million in the 2016 accounts of Wendel, which is signing a new chapter in its consistent strategy of increasing its exposure to unlisted assets.
May 9, 2016 Read time: 1 min

Investment group Wendel is reported to be selling 30 million shares of French group 6013 Saint-Gobain, which represents 5.3% of the capital of the group.

Saint-Gobain will buy one-third of the stake, according to a press release.

The portion is worth around €1.2 billion at current share prices.

The operation will translate as an accounting loss of around €220 million in the 2016 accounts of Wendel, which is signing a new chapter in its consistent strategy of increasing its exposure to unlisted assets.

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