(CercleFinance.com) – Saint-Gobain announces that, following a competitive sale process, it has signed an agreement to sell all its trading brands in the United Kingdom – including the timber and building materials distributor Jewson – to the Stark group.
The divested business is expected to generate revenue of around €2.7 billion in 2022 and an operating margin of around 2%. The sale will be made on the basis of an enterprise value of 740 million pounds sterling, or approximately 850 million euros.
This transaction, which is not subject to any external condition, should be finalized in the first quarter of 2023. The French building materials supplier will then no longer have any distribution activity in the United Kingdom.
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