Wendel: sells stake in Allied Universal
(CercleFinance.com) - Wendel, Caisse de dépôt et placement du Québec (CDPQ) and other current shareholders today announce that they have signed an agreement to sell an additional stake in Allied Universal with a new group led by Warburg Pincus and a subsidiary of J.
Safra Group.
The transaction is expected to be completed by the end of 2019. This transaction values Wendel's total stake at approximately 900 million dollars.
Wendel will receive more than 70% of the value of its cash interest once the sale is completed, representing a total of approximately 650 million dollars. It will retain a residual share of approximately 8% in Allied Universal's capital.
Adam Reinmann, Managing Director and CEO of Wendel North America says that since its initial investment in AlliedBarton in 2015, the company has increased its revenue from 2 billion dollars to over 7 billion dollars, thanks to organic growth, external growth operations and the merger with Universal Services of America.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Safra Group.
The transaction is expected to be completed by the end of 2019. This transaction values Wendel's total stake at approximately 900 million dollars.
Wendel will receive more than 70% of the value of its cash interest once the sale is completed, representing a total of approximately 650 million dollars. It will retain a residual share of approximately 8% in Allied Universal's capital.
Adam Reinmann, Managing Director and CEO of Wendel North America says that since its initial investment in AlliedBarton in 2015, the company has increased its revenue from 2 billion dollars to over 7 billion dollars, thanks to organic growth, external growth operations and the merger with Universal Services of America.
Copyright (c) 2019 CercleFinance.com. All rights reserved.