Saint-Gobain: disposal of SGBDD in Germany
(CercleFinance.com) - Saint-Gobain announces that it has reached an agreement for the sale of its entire stake in Saint-Gobain Building Distribution Deutschland (SGBDD) to Stark group, which is a distributor of building materials in Scandinavia.
In 2018, SGBDD's sales reached 1,924 million euros for an operating profit of 21 million euros. Mainly known for its brand Raab Karcher, it has about 220 sales outlets and almost 5,000 employees.
The completion of this transaction, which will be made on the basis of an enterprise value of 335 million euros, is subject to approval from the European competition authority and is expected to be effective in the second half of 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In 2018, SGBDD's sales reached 1,924 million euros for an operating profit of 21 million euros. Mainly known for its brand Raab Karcher, it has about 220 sales outlets and almost 5,000 employees.
The completion of this transaction, which will be made on the basis of an enterprise value of 335 million euros, is subject to approval from the European competition authority and is expected to be effective in the second half of 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.