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SGO Cie de SaintGobain

75.70
1.04 (1.39%)
03 May 2024 - Closed
Delayed by 15 minutes
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
  1.04 1.39% 75.70 75.50 76.24 76.22 74.96 75.40 1,313,777 02:00:57

Saint-Gobain to Sell Stake in SGBDD to Stark Group

20/05/2019 8:27am

Dow Jones News


Cie de SaintGobain (EU:SGO)
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From May 2019 to May 2024

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   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)

Copyright (c) 2019 Dow Jones & Company, Inc.

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