(Boursier.com) — Saint Gobain fell 1% to 51.40 euros on Tuesday after signing an agreement to sell Tadmar, its distribution business specializing in plumbing, heating and sanitary facilities in Poland, to the Polish company 3W.
Tadmar generated a turnover of around 100 million euros in 2021. The company operates around 50 points of sale, 2 logistics centers and employs 460 people. This sale marks Saint-Gobain’s exit from the distribution business in Poland. This operation is part of the continuation of the strategy to optimize the Group’s profile, in line with the objectives of the “Grow & Impact” plan.
Among the latest opinions from brokers, Deutsche Bank has adjusted the target from 78 to 70 euros while remaining on the buy side. Completion of this transaction is subject to the clearance of the Polish competition and consumer protection authorities. It should take place by the end of 2022.
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