Wendel: completes sale of 79% of Allied Universal
(CercleFinance.com) - Wendel has announced that it has completed the sale of a share of its stake in Allied Universal, resulting in net proceeds of 721 million dollars.
In detail, Wendel has sold 79% of its stake and will retain approximately a 6% stake in Allied Universal.
This transaction values Wendel's net investment in Allied Universal at approximately 920 million dollars, including realised and unrealised sales proceeds, i.e. 2.5x the total capital invested in dollars.
Wendel will record a capital gain of approximately 600 million euros in its 2019 consolidated accounts (unaudited).
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In detail, Wendel has sold 79% of its stake and will retain approximately a 6% stake in Allied Universal.
This transaction values Wendel's net investment in Allied Universal at approximately 920 million dollars, including realised and unrealised sales proceeds, i.e. 2.5x the total capital invested in dollars.
Wendel will record a capital gain of approximately 600 million euros in its 2019 consolidated accounts (unaudited).
Copyright (c) 2019 CercleFinance.com. All rights reserved.