TIDMCOD

RNS Number : 4753M

Compagnie de Saint-Gobain

08 January 2019

PRESS RELEASE

January 8, 2019

SAINT-GOBAIN Enters into Exclusive Discussions

for the sale of its Silicon Carbide Division

Saint-Gobain moved another step forward in the acceleration of its portfolio management, reaching an exclusive agreement with private equity firm OpenGate Capital after having received a purchase offer to acquire the Group's silicon carbide division. This firm and binding offer is not subject to any financing conditions.

Saint-Gobain is a worldwide leader in silicon carbide grains and powders with annual sales of around EUR120 million.

The transaction envisaged will be finalized after the usual information and consultation procedures with the relevant employee representative bodies of Saint-Gobain. It is subject to the approval of the competition authorities and should be effective in the first half of 2019.

This transaction is part of Saint-Gobain's announced objective to divest businesses representing sales of at least EUR3 billion by the end of 2019.

ABOUT SAINT-GOBAIN

Saint-Gobain designs, manufactures and distributes materials and solutions which are key ingredients in the wellbeing of each of us and the future of all. They can be found everywhere in our living places and our daily life: in buildings, transportation, infrastructure and in many industrial applications. They provide comfort, performance and safety while addressing the challenges of sustainable construction, resource efficiency and climate change.

EUR40.8 billion in sales in 2017

Operates in 67 countries

More than 179,000 employees

www.saint-gobain.com

@saintgobain

 
 
        Analyst/Investor relations                   Media relations 
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January 08, 2019 02:12 ET (07:12 GMT)

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