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PRESS RELEASE –JUNE 20, 2022
Wendel signed a binding offer for the sale of its headquarter building
Wendel announced today the signature of a binding offer for the sale of its headquarter building on Taitbout street. Generali Vie will acquire the property. The transaction amount results in a value creation of €1.5 per share in Wendel's NAV. The closing of this transaction is expected in the second half of 2022.
Jérôme Michiels, Executive Vice-President, Chief Financial Officer, Director of the Wendel Lab said:
"We are delighted with this transaction prior to moving into Wendel's new headquarters located on Paul Cézanne street in the 8th district in Paris. Our new head office will be much better suited to our business as investors and proceeds will be reinvested towards higher earning assets.”