Saint-Gobain Reaches Exclusive Agreement to Sell Silicon Carbide Unit
January 08 2019 - 1:57AM
Dow Jones News
By Cristina Roca
Compagnie de Saint-Gobain SA (SGO.FR) has reached an exclusive
agreement to sell its silicon carbide division to private equity
firm OpenGate Capital as part of a broader divestiture plan, the
company said Tuesday.
The French construction-materials group said the transaction
should be effective in the first half of the year.
Saint-Gobain's silicon carbide unit has annual sales of around
120 million euros ($137.4 million), the company said. The deal is
part of the company's plan to divest itself of businesses
representing sales of at least EUR3 billion by the end of this
year, Saint-Gobain said.
No financial details of the transaction were disclosed.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
January 08, 2019 02:42 ET (07:42 GMT)
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