PARIS (Agefi-Dow Jones)–French building materials producer Saint-Gobain has begun the process of selling its British subsidiary Jewson, Bloomberg reported on Tuesday, citing people familiar with the matter.
Contacted by the Agefi-Dow Jones agency, a Saint-Gobain spokeswoman declined to comment.
Saint-Gobain has “sent commercial documents to potential suitors and solicited a first round of bidding in mid-October”, according to Bloomberg, which said the sale of Jewson could bring in more than 1 billion pounds sterling (about 1 .15 billion euros).
Among the possible candidates for the takeover of Jewson, Bloomberg cites private equity firms CVC Capital Partners, Clayton Dubilier & Rice, Lone Star Funds, Cinven and Advent International.
Around 4:20 p.m., Saint-Gobain shares gained 3.7%, to 39.55 euros. The CAC 40 index also advanced by 3.7%.
-Vincent Alsuar, Agefi-Dow Jones; +33 (0)1 41 27 47 39; [email protected] ed: LBO
Website: https://www.bloomberg.com/news/articles/2022-10-03/saint-gobain-is-said-to-launch-jewson-sale-despite-tough-market
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October 04, 2022 10:27 ET (14:27 GMT)