Wendel: set to sell 3.6% of Saint-Gobain's capital.

(CercleFinance.com) - Wendel, which currently holds approximately 6.
1% of Saint-Gobain's capital and 10.5% of its voting rights, has announced its intention to sell approximately 3.6% of the building materials group's capital. Since 19 May the group has sold 0.3% of the group's capital on the market.

The sale of 20 million Saint-Gobain shares will be carried out as part of a private placement through the accelerated construction of an order book. The share's settlement-delivery is scheduled to take place on 6 June.

This sale will result in an accounting capital gain in Wendel's 2017 financial statements and will provide it with additional financial resources for the implementation of its 2017-2020 investment strategy.


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