Saint-Gobain: offer received for silicon carbide division
(CercleFinance.com) - Saint-Gobain has announced that it has entered into exclusive negotiations with the fund OpenGate Capital after receiving an offer to buy its silicon carbide division, which is a firm and irrevocable offer that does not include any funding terms.
The division has annual sales in silicon carbide grains and powders of about 120 million euros. As a reminder, it aims to divest activities representing sales of at least three billion euros by the end of 2019.
The proposed transaction will be finalised after the usual information and consultation procedures with Saint-Gobain's employee representative bodies. It is subject to approval from the competition authorities and should be effective in the first half of 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The division has annual sales in silicon carbide grains and powders of about 120 million euros. As a reminder, it aims to divest activities representing sales of at least three billion euros by the end of 2019.
The proposed transaction will be finalised after the usual information and consultation procedures with Saint-Gobain's employee representative bodies. It is subject to approval from the competition authorities and should be effective in the first half of 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.