We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Compagnie De Saint-gobain | LSE:COD | London | Ordinary Share | FR0000125007 | COMPAGNIE DE ST-GOBAIN ORD SHS |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 70.775 | 67.05 | 74.00 | 28,371 | 15:09:38 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Construction Machinery & Eq | 47.94B | 2.67B | - | N/A | 0 |
TIDMCOD
RNS Number : 7341E
Compagnie de Saint-Gobain
09 November 2020
PRESS RELEASE
November 9, 2020
SAINT-GOBAIN enters into exclusive negotiations with mutares
in preparation for the disposal of LAPEYRE
Saint-Gobain announces that it has today entered into exclusive negotiations with Mutares, listed in Frankfurt, in preparation for the sale of Lapeyre, its subsidiary specialized in home improvements in France, on the basis of a firm and binding offer which follows a broad competitive process that began in September 2019. This important step launches a period of consultations and approvals which should result in a finalized transaction in the first quarter 2021.
The offer received from Mutares meets the criteria set by Saint-Gobain:
-- An experienced buyer familiar with business turnaround situations: Mutares currently owns and supports 18 companies generating expected annualized consolidated sales of about EUR1.8 billion in 2020;
-- A solid and relevant project, based on the revitalization of the offer, commercial efficiency, optimization of the industrial base and anticipating in particular accelerated modernization of the store network and investments in the plants;
-- A documented project, responsible in terms of employment and local development, with strong commitments from the acquirer;
-- A strong and credible team reinforced with additional skills thanks to the arrival of Marc Ténart, former manager of Castorama and Conforama.
In addition, Saint-Gobain will provide Lapeyre with around EUR245 million, leaving it with a robust cash position and a healthy financial situation to finance its operations as well as the investments and measures necessary to continue modernizing the brand and the plants, and the return to profitability.
This project will be presented to the social partners as part of the pre-sale information-consultation process. It plans to extend and accelerate the actions implemented by Lapeyre's management since 2016, particularly in terms of the complete renewal of the offer, digitization, redefinition of the brand's positioning and store concept, and capital expenditures. In recent years these actions have demonstrated their positive impact in terms of market share gains and the recovery in revenue and earnings, including in 2020 despite the negative impact of the coronavirus crisis.
The proposed sale of Lapeyre is in line with Saint-Gobain's transformation plan, "Transform & Grow", which aims in particular to focus the Group's resources on its strategic activities.
Lapeyre has approximately 3,500 employees, with 10 plants and 126 stores in France. In 2019 it generated sales of EUR641 million and an operating loss of EUR34 million.
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.
EUR42.6 billion in sales in 2019
Operates in 70 countries
More than 170,000 employees
For more information about Saint-Gobain
Visit www.saint-gobain.com
and follow us on Twitter @saintgobain
Analyst/Investor relations Press relations +33 1 88 54 +33 1 88 54 29 77 23 45 +33 1 88 54 +33 1 88 54 Vivien Dardel 19 09 Laurence Pernot 26 83 Floriana Michalowska +33 1 88 54 Patricia Marie +33 1 88 54 Christelle Gannage 15 49 Susanne Trabitzsch 27 96 ----------------------- ------------- -------------------- --------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
DISGZMGMNLVGGZM
(END) Dow Jones Newswires
November 09, 2020 12:08 ET (17:08 GMT)
1 Year Compagnie De Saint-gobain Chart |
1 Month Compagnie De Saint-gobain Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions