TIDMCOD
RNS Number : 0501O
Compagnie de Saint-Gobain
27 May 2020
PRESS RELEASE
May 27, 2020, at 8:00 am
SAINT-GOBAIN GROUP COMPLETES SALE OF SIKA SHARES FOR CHF2.56 BILLION
-- Saint-Gobain today announces the successful completion of the
sale by its subsidiary Schenker-Winkler Holding AG of approximately
15.2 million Sika shares, representing its full stake of 10.75% of
Sika's share capital, for a total of CHF2.56 billion. The shares
were placed via a private placement to qualified institutional
investors by way of an accelerated book-building process.
-- As a result of this disposal, Saint-Gobain has generated
gross gains of EUR1.54 billion since May 2018.
The disposal of the stake in Sika enables Saint-Gobain to
strengthen its balance sheet. Saint-Gobain acquired its 10.75%
stake in Sika as part of a global agreement with Sika and the
Burkard family in May 2018. The Sika shares were held as an equity
investment and Saint-Gobain has chosen to recognize any change in
the fair value of the Sika shares directly in equity.
Pierre-André de Chalendar, Chairman and Chief Executive Officer
of Saint-Gobain, commented:
"The Sika shareholding has been an outstanding investment for
Saint-Gobain over the past two years. We have completed the sale at
a price of CHF2.56 billion, equivalent to around EUR2.41 billion,
compared to a purchase price of EUR933 million in May 2018.
Realizing such an outstanding return on this investment is a very
positive development for the Group. The proceeds from the disposal
will strengthen Saint-Gobain's balance sheet, increase its
financial flexibility and liquidity position in a market
environment that remains uncertain. As mentioned at the end of
April, depending on how the situation evolves Saint-Gobain will
review the Group's shareholder return policy by the end of the
year. "
Citigroup acted as Sole Global Coordinator on the Private
Placement.
Citigroup and Lazard acted as financial advisers to Saint-Gobain
.
ABOUT SAINT-GOBAIN
Saint-Gobain designs, manufactures and distributes materials and
solutions which are key ingredients in the wellbeing of each of us
and the future of all. They can be found everywhere in our living
places and our daily life: in buildings, transportation,
infrastructure and in many industrial applications. They provide
comfort, performance and safety while addressing the challenges of
sustainable construction, resource efficiency and climate
change.
EUR42.6 billion in sales in 2019
Operates in 68 countries
More than 170,000 employees
For more information about Saint-Gobain
Visit www.saint-gobain.com
and follow us on Twitter @saintgobain
Analyst/Investor relations Press relations
+33 1 47 62 +33 1 47 62
44 29 30 10
+33 1 47 62 +33 1 47 62
Vivien Dardel 35 98 Laurence Pernot 51 37
Floriana Michalowska +33 1 47 62 Patricia Marie +33 1 47 62
Christelle Gannage 30 93 Susanne Trabitzsch 43 25
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Disclaimer - Important information
This press release is for information purposes only and does not
constitute an offer to sell or a solicitation of an offer to buy
any securities and the offer of the shares of Sika AG ("Sika
shares") by SWH does not constitute a public offering other than to
European qualified investors in any jurisdiction, including in
France and Switzerland.
This press release is an advertisement and not a prospectus
within the meaning of Regulation (EU) 2017/1129 (the "Prospectus
Regulation").
In member states of the European Economic Area and in the United
Kingdom, this communication and any offer if made subsequently is
directed exclusively at persons who are "qualified investors"
within the meaning of Article 2(e) of the Prospectus
Regulation.
This communication is for distribution in the United Kingdom
only to (i) investment professionals falling within article 19(5)
of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (the "Order") or (ii) high net worth entities
and other persons to whom it may lawfully be communicated, falling
within article 49(2)(a) to (d) of the Order (all such persons
together being referred to as (i), "relevant persons"), to the
exclusion of any other person.
The offer and sale of the securities referred to in this
announcement has not been, nor will be, registered under the U.S.
Securities Act of 1933 (the "U.S. Securities Act") and the
securities may not be offered or sold in the United States absent
such registration or an applicable exemption from the registration
requirements of the U.S. Securities Act. There will be no public
offering of the securities in the United States in connection with
this transaction.
The distribution of this announcement into certain jurisdictions
may be restricted by law. No action has been taken by SWH that
would permit an offering of Sika shares or possession or
distribution of this announcement in any jurisdiction where action
for that purpose is required. Persons into whose possession this
announcement comes should inform themselves about and observe any
such restrictions. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such
jurisdiction
Any investment decision relating to the purchase of Sika shares
must be made solely on the basis of publicly available information
relating to Sika. SWH bears no liability in respect of that
information.
The Sole Global Coordinator is acting on behalf of SWH and no
one else in connection with the Private Placement and will not
regard any other person as its clients nor be responsible to any
other person for providing the protections afforded to any of its
clients nor for providing advice in relation to the Private
Placement, the contents of this press release or any transaction,
arrangement or other matter referred to herein.
None of the Sole Global Coordinator or any of its directors,
officers, employees, advisers or agents accepts any responsibility
or liability whatsoever for or makes any representation or
warranty, express or implied, as to the truth, accuracy or
completeness of the information in this press release (or whether
any information has been omitted from the press release) or any
other information relating to Sika, SWH, their respective
subsidiaries or associated companies, whether written, oral or in a
visual or electronic form, and howsoever transmitted or made
available or for any loss howsoever arising from any use of this
press release or its contents or otherwise arising in connection
therewith.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DISDZGZKVNVGGZG
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May 27, 2020 02:48 ET (06:48 GMT)
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