PRESS RELEASE - SEPTEMBER 27, 2018
Sale of Mecatherm was completed
After obtaining the necessary authorizations, Wendel today announced it completed the sale of Mecatherm to Unigrains. For Wendel, the transaction generated net proceeds of €84 million or €41 million above Mecatherm`s valuation in Wendel`s net asset value as of May 2, 2018, published before the sale project announcement.
2018 Investor Day / Publication of NAV and trading update (pre-market release).
Wendel is one of Europe`s leading listed investment firms. The Group invests in Europe, North America and Africa in companies which are leaders in their field, such as Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and Allied Universal. Wendel plays an active role as a controlling or lead shareholder in these companies. We implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of Mecatherm in France, Nippon Oil Pump in Japan, PlaYce and Tsebo in Africa.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor`s ratings: Long-term: BBB-, stable outlook - Short-term: A-3 since July 7, 2014
Moody`s ratings: Long-term: Baa2, stable outlook - Short-term: P-2 since September 5, 2018
Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012.
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Source: WENDEL via GlobeNewswire