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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Cie de SaintGobain | EU:SGO | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.16 | 0.19% | 85.60 | 85.50 | 85.90 | 85.86 | 85.54 | 85.72 | 133,398 | 13:05:00 |
From Dec 2022 to Dec 2024
By David Sachs
Saint-Gobain said it would sell a majority stake in its U.K. foam insulation business to Soprema as part of its disposal plan.
The French construction supplier said late Wednesday that Celotex's assets will be transferred to a new standalone company, which will be 75% owned by Soprema, a private French waterproofing and insulation firm. Saint-Gobain will retain a 25% minority stake, it said.
The move is part of Saint-Gobain's streamlining strategy, which includes asset-disposals.
Celotex has two manufacturing facilities in the U.K. and employs 155 people, Saint-Gobain said. The transaction is expected to close early next year.
Financial details were not disclosed.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
December 07, 2023 01:48 ET (06:48 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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