Saint-Gobain : Selling German distribution business
>Agreement to sell distribution business in Germany - Saint-Gobain has signed an agreement to sell off Saint Gobain Building Distribution Deutschland (the main asset being Raab Karcher) to the Stark group (Ferguson's distribution operations in Scandinavia). The disposal price is € 335m, i.e. a 2018 EV/EBIT multiple of 16x (30bp of margin improvement). Saint-Gobain had booked an impairment on this asset of € 212m at the 2018 earnings release, vs a purchase price of € ...Compagnie de Saint-Gobain manufactures, produces, and distributes industrial materials. Co.'s activities are divided into four sectors: Innovative Materials (Co. makes, processes and sells glass and glazing products for the building, the automotive and solar energy industries; Co. also manufactures Ceramics and Plastics, Abrasives, and Textiles), Construction Products (Co. offers products for the Insulation, Gypsum, Exterior Products, Pipe and Industrial Mortars), Building Distribution (Co. distributes building materials (plumbing, heating and sanitaryware products) and ceramic tiles), and Packaging - Verallia (Co. manufactures glass containers and jars for foodstuffs and beverages).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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