Compagnie de Saint-Gobain Disposal (4418V)
January 14 2013 - 2:00AM
UK Regulatory
TIDMCOD
RNS Number : 4418V
Compagnie de Saint-Gobain
14 January 2013
January 14, 2013
Saint-Gobain has received a binding and irrevocable offer
for Verallia North America from the Ardagh Group
for $1,694 million (around EUR1,275 million)
Saint-Gobain has entered into exclusive negotiations with the
Ardagh Group following the latter's offer to acquire Verallia North
America for an enterprise value of $1,694 million (around EUR1,275
million), representing 6.5 times 2012 EBITDA (around $261 million).
The binding and irrevocable offer is not conditional upon financing
being arranged.
With revenue of $1,621 million* and operating profit of $171
million* in 2012, Verallia North America is the second largest
glass container manufacturer in the United States, behind
Owens-Illinois. The company has 13 plants spread across the
country, and employs more than 4,400 people.
Compagnie de Saint-Gobain will decide whether to accept the
offer after the Works Council has been consulted and has given its
opinion. The transaction will be subject to authorization by the
United States anti-trust authorities.
Pierre-André de Chalendar, Chairman and CEO of Compagnie de
Saint-Gobain, commented:
"The offer is a new milestone in Saint-Gobain's strategic
refocusing on the habitat sector. It puts a high value on our North
American containers business, above the multiples contemplated at
the time of the planned IPO in 2011, while providing it with
promising scope for industrial development.
If the deal is completed, the sale proceeds will be used mainly
to strengthen the Group's balance sheet, while pursuing its
acquisition policy focused on small or medium sized targets.
At the same time, Verallia's positions in Western and Eastern
Europe, which were recently strengthened by a very promising
operation in Algeria, together with its positions in growing Latin
American markets, make it a global leader in its markets, with
considerable cash generation and development potential."
*estimates
About Saint-Gobain
Saint-Gobain, the world leader in the habitat and construction
markets, designs, manufactures and distributes building materials,
providing innovative solutions to the challenges of growth, energy
efficiency and environmental protection. With 2011 sales of
EUR42.12 billion, Saint-Gobain operates in 64 countries and has
nearly 195,000 employees. For more information about Saint-Gobain,
visit www.saint-gobain.com.
Analyst / Investor Relations Press Contact
--------------------------------------------- ------------------------------------------------------------
+33 1 47 62
45 19
+33 1 47 62 +33 1 47 62
Florence Triou-Teixeira 44 29 30 48
Vivien Dardel +33 1 47 62 Sophie Chevallon +33 1 47 62
Alexandra Baubigeat 30 93 Susanne Trabitzsch 43 25
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This information is provided by RNS
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