Saint-Gobain: lauded for the agreement with Sika
(CercleFinance.com) - Saint-Gobain is up 2.
3% to lead the CAC40, as the construction-materials group is lauded for its agreement with Sika and the Burkard family, putting an end to the disputes between them.
As part of this deal, the French group acquired Schenker-Winkler Holding (SWH) from the Burkard family for 3.22 billion Swiss francs, 500 million more than the initial price in December 2014.
Sika bought 6.97% of its own capital from Saint-Gobain for 2.08 billion francs whilst Saint-Gobain committed to keep, through SWH, a 10.75% stake for at least two years.
“This is not the plan initially presented to the market but at least the Sika saga looks over to us”, responds Bryan Garnier, which also points to a positive net result from this transaction of approximately 600 million euros for Saint-Gobain.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
3% to lead the CAC40, as the construction-materials group is lauded for its agreement with Sika and the Burkard family, putting an end to the disputes between them.
As part of this deal, the French group acquired Schenker-Winkler Holding (SWH) from the Burkard family for 3.22 billion Swiss francs, 500 million more than the initial price in December 2014.
Sika bought 6.97% of its own capital from Saint-Gobain for 2.08 billion francs whilst Saint-Gobain committed to keep, through SWH, a 10.75% stake for at least two years.
“This is not the plan initially presented to the market but at least the Sika saga looks over to us”, responds Bryan Garnier, which also points to a positive net result from this transaction of approximately 600 million euros for Saint-Gobain.
Copyright (c) 2018 CercleFinance.com. All rights reserved.