France's Saint-Gobain to sell its UK distribution business

information fournie par Reuters •12/12/2022 à 08:46

12 décembre (Reuters) - Compagnie de Saint-Gobain

SGOB.PA has signed a binding agreement to sell its British distribution business to the Stark group, the French construction firm announced on Monday.

The company said the divested assets were expected to generate revenues of around 2.7 billion euros ($2.84 billion) this year, bringing its operating margin at about 2%.

The transaction, which is set to be completed in the first quarter of 2023, is based on an enterprise value of 740 million pounds ($905.09 million).

Saint-Gobain's merchant brands in Britain comprise 600 outlets with 8,900 employees, the company added in a statement. ($1 = 0.9501 euros) ($1 = 0.8176 pounds)

(Reporting by Juliette Portala, Editing by Louise Heavens)