StockMarketWire.com - Compagnie de Saint-Gobain has sold Verallia to funds managed by affiliates of Apollo Global Management LLC and BPI France, which currently hold 90% and 10%, respectively, of the share capital.

The sale was completed based on an enterprise value of €2,945 million and reduces Saint-Gobain's net debt by an estimated €2.5 billion. This transaction follows the agreement reached with the relevant competition authorities as well as the customary information and consultation procedures with the group's employee representative bodies.

Saint-Gobain says the sale of Verallia marks a decisive step in the company's strategic refocus on the design, manufacture and distribution of innovative, high-performance solutions for the habitat and industrial markets, on which the group will continue to develop.




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