Saint-Gobain to Sell Stake in SGBDD to Stark Group
May 20 2019 - 2:27AM
Dow Jones News
By Patrick Costello
Compagnie de Saint-Gobain SA (SGO.FR) said Monday that it has
reached an agreement to sell its entire stake in Saint-Gobain
Building Distribution Deutschland to the Stark Group, a Nordic
building materials company.
The sale is based on an enterprise value of 335 million euros
($373.7 million) for SGBDD, the French construction materials group
said.
Saint-Gobain said it expects the divestment to be completed in
the second half of 2019 pending approval from European antitrust
authorities.
SGBDD generated revenue of EUR1.9 billion in 2018, Saint-Gobain
said. It is mainly known for its Raab Karcher brand and has 220
sales outlets employing roughly 5,000 people, it said.
Write to Patrick Costello at patrick.costello@dowjones.com.
(END) Dow Jones Newswires
May 20, 2019 03:12 ET (07:12 GMT)
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