COURBEVOIE (dpa-AFX) - Saint-Gobain (CODGF.PK) said it has signed a binding agreement for the sale of all its merchanting brands in the United Kingdom to the Stark group. The divestment is based on an enterprise value of 740 million pounds.
Saint-Gobain expects the divested assets to generate revenues of around 2.7 billion euros in 2022 with an operating margin of around 2%. It comprises 600 outlets and employ 8,900 people.
Saint-Gobain said the company will then no longer have any distribution businesses in the United Kingdom.
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