(BFM Bourse) – Saint-Gobain rose on the stock market on Friday after the announcement of two disposals. The group said Thursday evening that it had “entered into exclusive negotiations” for the sale of its “Crystals and detectors” activity, then announced Friday morning the sale of glass processing sites in northwestern France. The French building materials champion has been increasing operations for several months as part of its strategic plan called “Grow & Impact”.
The French building materials group Saint-Gobain announced on Friday the sale of glass processing sites in the north-west of France “to a group of private investors led by former managers of the group”.
Saint-Gobain Glassolutions Grand Ouest employs 420 people and “generated revenue of around 60 million euros in 2021,” the statement said. The amount of the sale was not disclosed.
This operation follows the sale of the “Crystals and detectors” activity, announced Thursday by Saint-Gobain. This branch notably includes radiation detection solutions for medical imaging and nuclear safety. Saint-Gobain gained 1.9% to 40.235 euros around 11:40 a.m. after the announcement of these two operations in a few hours.
Two American funds in the running for the acquisition of “Crystals and Detectors”
The group indicated on Thursday that it had “entered into exclusive negotiations” for the sale of the “Crystals and Detectors” activity to a consortium led by SK Capital Partners associated with Edgewater Capital Partners, two American investment capital funds specializing in building materials. high technology. The latter have submitted “a firm and irrevocable offer to purchase for an enterprise value of 214 million US dollars”, said the group.
Saint-Gobain hopes to finalize this transaction in the fourth quarter of 2022, after consultation with employee representative bodies and on condition of obtaining the green light from the regulatory authorities.
The activity employs approximately 400 people in six factories (two in France, three in the United States and one in India) and generated in 2021 a turnover of nearly 75 million euros with an adjusted EBITDA margin by about 20%. It provides radiation detection solutions for medical imaging, security, nuclear safety, oil and gas exploration, and environmental monitoring, as well as sapphire products for medicine, industry, electronics and aerospace, the group said.
Saint-Gobain intends, through this transaction, to focus the activities of its “High Performance Solutions” division on markets where the group “enables its customers to accelerate their approach to carbon neutrality and circularity”, as part of its strategic plan called “Grow & Impact”.
(With AFP)
SS – ©2022 BFM Bourse
Are you following this action?
Receive all the information about SAINT GOBAIN in real time: