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Saint-Gobain enters exclusive talks to sell distribution activities business in the Netherlands
StockMarketWire.com
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Construction materials business Saint-Gobain said it had entered into exclusive negotiations with Building Materials Europe in relation to the sale of its distribution activities business in the Netherlands.
In 2019, Saint-Gobain Building Distribution the Netherlands generated revenues of €522 million and an adjusted EBITDA of €11 million.
Operating under the brands Raab Karcher, Tegelgroep Nederland, Galvano and Van Keulen, the business had 38 sales outlets and employs over 1,000 people.
The transaction, subject to approval by the European competition authority and to information and consultation of the employee representatives of the relevant Dutch entities, was intended to be finalized by the end of the year 2021, the company said.
The sale would be based on an enterprise value of €150 million, it added.
At 8:45am: (LON:COD) Compagnie De StGobain share price was 0p at 39.54p
Story provided by StockMarketWire.com
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