Herige: share price surges, trading activity to be sold off

(CercleFinance.com) - Herige shares jumped by almost 22% on Tuesday on the Paris Bourse after the concrete and industrial joinery specialist announced plans to sell its trading arm.


The family-owned Vendée-based company said it had entered into exclusive negotiations with the Samse group with a view to selling its materials, civil engineering and natural stone trading activities.

The scope of the deal represents a workforce of 1,155, annual sales of 383.5 million euros and a network of 79 sales outlets located in the Greater West of France.

In its press release, Herige states that this transaction would enable it to reduce its debt by 120 million euros and generate a capital gain of around 24 million euros.

The transaction would also give it additional resources to finance the development of its two industrial divisions, concrete with the Edycem brand and joinery with Atlantem, it explains.

Finalization of the disposal project is now expected for spring 2024.

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