Wendel strengthens its position in Stahl by acquiring 4.8% of the capital from Clariant for €50 million
Wendel announces an agreement to acquire 4.8% of Stahl`s capital from Clariant for a total cash amount of €50m. Following this deal, Wendel increases its ownership in Stahl to c. 67%*. Clariant now owns c. 14.5%* of the capital of Stahl and therefore drops out its board seat and its specific veto rights. The remainder of Stahl`s capital remains held by BASF (c.16%), the company`s management and other minority investors.
This transaction contributes positively to Wendel`s value creation. Wendel has been a long-term shareholder of Stahl since June 2006 and is its sole controlling shareholder since 2009.
* % of economic ownership
2018 Full-Year Results / Publication of NAV as of December 31, 2018 (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 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