Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSaint Gobain Or Regulatory News (COD)

  • There is currently no data for COD

Disposal

8 Jun 2015 07:08

RNS Number : 4704P
Compagnie de Saint-Gobain
08 June 2015
 



 

 

 

 

 

 

 

 

Paris, June 8, 2015

 

Sale of Verallia: Saint-Gobain has entered into exclusive talks with Apollo

 

 

Following a comprehensive process, Saint-Gobain has granted funds managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo") exclusivity after having received a purchase offer for Verallia of €2,945 million (enterprise value). This firm and binding offer is not subject to any financing conditions.

 

Apollo is also currently in talks with Banque Publique d'Investissement (BPI) in connection with BPI's potential acquisition of a minority stake in Verallia.

 

Saint-Gobain chose Apollo for the quality of its offer and its support for the industrial project and for Verallia's employees.

 

Verallia is one of the leading manufacturers of glass bottles and jars in the world, generating €2,391 million in net sales and €230 million in operating income in 2014 (excluding Verallia North America, which exited the Group in April 2014). It has 47 plants in 13 countries and employs nearly 10,000 people.

 

The agreement between Saint-Gobain and funds managed by affiliates of Apollo will be able to be finalized following the customary information and consultation procedures with the Group's employee representative bodies. The completion of the transaction is subject to the approval of certain competition authorities, including the European Commission, and should be effective before the end of the year.

 

 

Pierre-André de Chalendar, Chairman and Chief Executive Officer of Saint-Gobain, said:

"The sale of Verallia would complete Saint-Gobain's strategic refocus on the design, manufacture and distribution of innovative, high-performance solutions for the habitat and industrial markets, on which the Group continues to develop."

 

 

Robert Seminara, Senior Partner at Apollo, and Jean-Luc Allavena, Operating Executive at Apollo, said:

 "We are extremely excited to be acquiring Verallia, which is an outstanding franchise and one of the world's leading packaging companies. We look forward to partnering with management and its tremendous employee base to support the continued growth and innovation of Verallia."

 

 

 

ABOUT SAINT-GOBAIN

In 2015, Saint-Gobain is celebrating its 350th anniversary, 350 reasons to believe in the future. Backed by its experience and its capacity to continuously innovate, Saint-Gobain, the world leader in the habitat and construction market, designs, manufactures and distributes high-performance and building materials providing innovative solutions to the challenges of growth, energy efficiency and environmental protection. With 2014 sales of €41 billion, Saint-Gobain operates in 64 countries and has over 180,000 employees. For more information about Saint-Gobain, visit www.saint-gobain.comand the twitter account @saintgobain or download the "Saint-Gobain Shareholder" application for tablet and smartphone.

 

ABOUT APOLLO

Apollo is a leading global alternative investment manager. Apollo had assets under management of approximately $163 billion as of March 31, 2015 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources, including the packaging and materials sectors. Apollo has a strong track record in France based on investments in major industrial companies such as Constellium. For more information about Apollo, please visit www.agm.com .

 

 

 

 

Analyst/Investor relations

 

Press relations

 

For Saint-Gobain:

 

Gaetano Terrasini

Vivien Dardel

Marine Huet

 

For Apollo:

 

Gary Stein

Noah Gunn

 

 

 

+33 1 47 62 32 52

+33 1 47 62 44 29

+33 1 47 62 30 93

 

 

 

+1 212 822 0467

+1 212 822 0540

 

 

 

Sophie Chevallon Susanne Trabitzsch

 

 

 

 

Benoît Gausseron

(Taddeo)

 

 

 

+33 1 47 62 30 48

+33 1 47 62 43 25

 

 

 

 

+33 6 46 47 09 49

 

 

 

Appendix: Verallia key financial data1

 

For the three monthsended March 31,

For the year ended December 31, 2014

For the twelvemonths endedMarch 31, 2015

€m

2014

2015

Net sales

544.4

549.8

2,391.0

2,396.4

Operating income

37.4

45.7

230.1

238.4

Business income2

35.7

43.6

211.8

219.8

EBITDA3

78.5

87.0

396.9

405.4

Capital expenditure4

27.9

40.5

197.2

210.8

 

 

1. The summary combined financial information as of and for the twelve months ended December 31, 2014 was derived from our audited financial statements. The summary condensed combined financial information as of and for the three months ended March 31, 2014 and 2015 was derived from our unaudited interim financial statements. The financial information for the twelve months ended March 31, 2015 was derived by adding the unaudited condensed interim combined financial information for the three months ended March 31, 2015 to the audited combined financial information for the year ended December 31, 2014 and subtracting the unaudited condensed interim combined financial information for the three months ended March 31, 2014.

 

2. Business income includes all income and expenses (other than borrowing costs and other financial costs and other financial income and expense, and income taxes).

 

3. EBITDA = operating income plus depreciation and amortization on tangible and intangible assets.

 

4. Investments in tangible and intangible assets.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DISGMGGVVRNGKZG
Date   Source Headline
6th Jan 20265:00 pmRNSIntention to delist from the London Stock Exchange
5th Jan 20267:19 amRNSAcquisition
8th Dec 20257:38 amRNSSaint-Gobain cancels 4.2 million shares
1st Dec 20254:58 pmRNSDisposal
30th Oct 20255:54 pmRNS3rd Quarter Results
6th Oct 20257:40 amRNSCapital Markets Day
2nd Oct 20255:10 pmRNSDisposal
1st Oct 20255:08 pmRNSDisposal
26th Sep 20255:14 pmRNSNew plant
8th Sep 20255:12 pmRNSNew construction chemicals organization in Germany
20th Aug 20257:15 amRNSDisposal
31st Jul 20255:51 pmRNSHalf-year Report
29th Jul 20255:10 pmRNSAcquisition
8th Jul 20255:10 pmRNSDisposal
18th Jun 20255:06 pmRNSAcquisition
5th Jun 20256:11 pmRNSNew organization
5th Jun 20255:53 pmRNSAGM Statement
4th Jun 20257:17 amRNSNew plant
20th May 20255:12 pmRNSNew plant
24th Apr 20255:31 pmRNS1st Quarter Results
22nd Apr 20257:00 amRNSSaint-Gobain featured on CDP’s “Climate A List”
26th Mar 20257:00 amRNSBond issue
27th Feb 20255:45 pmRNSAnnual Financial Report
21st Feb 20257:10 amRNSAppointment
10th Feb 20257:12 amRNSAcquisition
4th Feb 20254:54 pmRNSProduction line
16th Jan 20255:41 pmRNSFacility
15th Jan 20255:26 pmRNSAcquisition
3rd Dec 20245:26 pmRNSDecrease in capital
3rd Dec 20247:04 amRNSAcquisition
2nd Dec 20245:10 pmRNSAcquisition
2nd Dec 20247:06 amRNSDisposal
28th Nov 20245:15 pmRNSGovernance
7th Nov 20247:12 amRNSAgreement
29th Oct 20245:55 pmRNS3rd Quarter Results
14th Oct 20245:07 pmRNSAcquisition
8th Oct 20247:05 amRNSAgreement
10th Sep 20245:13 pmRNSDisposal
2nd Sep 20247:06 amRNSDisposal
15th Aug 20246:14 pmRNSAcquisition
31st Jul 20246:07 pmRNSIssue of Debt
26th Jul 20247:00 amRNSHalf-year Report
9th Jul 20247:08 amRNSAcquisition
27th Jun 20247:00 amRNSAcquisition
7th Jun 20247:00 amRNSAGM Statement
3rd Jun 20245:18 pmRNSAcquisition
2nd May 20245:34 pmRNSAgreement
25th Apr 20245:16 pmRNS1st Quarter Results
3rd Apr 20245:44 pmRNSAcquisition
26th Mar 20246:01 pmRNSIssue of Debt

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.