Saint-Gobain: divests business in South Korea
(CercleFinance.com) - Saint-Gobain announces that it has reached an agreement to divest its glass building business in South Korea (Hankuk Glass Industries), which operates in the local construction market, to the Glenwood Private Equity investment fund.
In 2018, the business generated revenue of around 200 million euros, with operating profit of 10 million euros. It employs 310 people and mainly has two flat glass production units and one processing line.
The transaction is expected to be effective at the end of 2019 after obtaining authorisation from the relevant competition authorities. It will be based on an enterprise value of approximately 240 million euros.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In 2018, the business generated revenue of around 200 million euros, with operating profit of 10 million euros. It employs 310 people and mainly has two flat glass production units and one processing line.
The transaction is expected to be effective at the end of 2019 after obtaining authorisation from the relevant competition authorities. It will be based on an enterprise value of approximately 240 million euros.
Copyright (c) 2019 CercleFinance.com. All rights reserved.