Saint-Gobain: completes divestment in Germany
(CercleFinance.com) - Saint-Gobain announced late on Monday that it has completed the sale of the company Saint-Gobain Building Distribution Deutschland to the Stark group.
In 2018, this business reported sales of 1,924 million euros for operating profit of 21 million euros. The divestment has been made on the basis of an enterprise value of 335 million euros.
"This transaction marks an important milestone in the execution of Saint-Gobain's portfolio optimization strategy: with over E3 billion in sales completed or signed as of today, the objective announced for the end of 2019 has already been reached," Saint-Gobain said.
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In 2018, this business reported sales of 1,924 million euros for operating profit of 21 million euros. The divestment has been made on the basis of an enterprise value of 335 million euros.
"This transaction marks an important milestone in the execution of Saint-Gobain's portfolio optimization strategy: with over E3 billion in sales completed or signed as of today, the objective announced for the end of 2019 has already been reached," Saint-Gobain said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.