Wendel: sells HQ building in Paris

(CercleFinance.com) - French investment company Wendel has announced that it has signed an agreement to sell its headquarter building on rue Taitbout, Paris.


Generali Vie has acquired the property. The transaction amount results in a value creation of 1.5 euro per share in Wendel's NAV. This transaction is expected to be closed in the second half of 2022.

Jérôme Michiels, Executive Vice-President, Chief Financial Officer, Director of the Wendel Lab said, "We are delighted with this transaction prior to moving into Wendel's new headquarters located on Paul Cézanne street in the 8th district in Paris. Our new head office will be much better suited to our business as investors and proceeds will be reinvested towards higher earning assets. "



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