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

Agenda

03.21.2019

2018 Full-Year Results / Publication of NAV as of December 31, 2018 (pre-market release).

 

About Wendel

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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Wendel strengthens its position in Stahl


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Source: WENDEL via Globenewswire