Wendel: steps up look-out for investments

(CercleFinance.com) - Wendel announced on Thursday that it intends to intensify its efforts to seek investments, with the aim of increasing the redeployment of its capital to higher growth companies.


The investment company, which is holding a CMD today, says it is targeting unit entry tickets of between 150 and 500 million euros.

The French group also explains that it wants to use the leverage offered to it through "Wendel Lab", its structure created in 2013 to adapt to new business models and disruptive technologies.

Wendel - which says that it has the will and financial means to invest - states that it has recently recruited new talent in its investment teams in Paris and New York.

During the first year of its 2021-2024 plan, Wendel finalised long-term projects, such as the listing of IHS Towers on the New York Stock Exchange and the sale of Cromology, a specialist in decorative paint.

The group also says that it has invested in Tarkett, alongside its founding family, as the floor covering manufacturer is being delisted.

However, these announcements were received without much enthusiasm on Thursday in Paris, where the share has fallen (currently down 0.7%) in a Paris market that is down 1%.



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