StockMarketWire.com - Saint-Gobain, a silicon carbide grains and powders company, on Tuesday agreed to sell its silicon carbide division to private equity firm OpenGate Capital.

The agreement comes after the company received a purchase offer from the private equity firm to acquire the group's silicon carbide division.

The transaction would be subject to the approval of the competition authorities and should be effective in the first half of 2019, the company said.

The sale formed part of Saint-Gobain's announced objective to divest businesses representing sales of at least €3bn by the end of 2019.

At 8:51am: [LON:COD] Compagnie De StGobain share price was +0.34p at 29.4p



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