(AFP/ERIC PIERMONT)
The investment company Wendel announced on Friday the sale of 9% of the capital of the French inspection and certification group Bureau Veritas for an amount of 1.1 billion euros, part of which to Bpifrance.
The sale allows Wendel to release “around 1.1 billion euros gross of cash”, but it “remains the largest shareholder and the controlling shareholder of Bureau Veritas” with a stake of 26.5% “as a result of the transaction,” the investment company said in a statement.
The transaction results in a capital gain “of around 800 million euros”, underlines Wendel.
The Lac fund, managed by Bpifrance, acquired 4% of the share capital of Bureau Veritas for 500 million euros and Bureau Veritas bought back 0.8% of its own share capital for 100 million euros, indicates Wendel, without giving More details.
Wendel saw its net profit divided by 4.6 in 2023, to 142.4 million euros, due to the absence of a large sale, unlike in 2022.