Investment group Wendel is reported to be selling 30 million shares of French group Saint-Gobain, which represents 5.3% of the capital of the group. Saint-Gobain will buy one-third of the stake, according to a press release. The portion is worth around €1.2 billion at current share prices. The operation will translate as an accounting loss of around €220 million in the 2016 accounts of Wendel, which is signing a new chapter in its consistent strategy of increasing its exposure to unlisted assets.
Investment group Wendel is reported to be selling 30 million shares of French group Saint-Gobain, which represents 5.3% of the capital of the group.
Saint-Gobain will buy one-third of the stake, according to a press release.
The portion is worth around €1.2 billion at current share prices.
The operation will translate as an accounting loss of around €220 million in the 2016 accounts of Wendel, which is signing a new chapter in its consistent strategy of increasing its exposure to unlisted assets.
