Saint-Gobain to Sell Stake in SGBDD to Stark Group

   By Patrick Costello

Compagnie de Saint-Gobain SA (SGO.FR) said Monday that it has reached an agreement to sell its entire stake in Saint-Gobain Building Distribution Deutschland to the Stark Group, a Nordic building materials company.

The sale is based on an enterprise value of 335 million euros ($373.7 million) for SGBDD, the French construction materials group said.

Saint-Gobain said it expects the divestment to be completed in the second half of 2019 pending approval from European antitrust authorities.

SGBDD generated revenue of EUR1.9 billion in 2018, Saint-Gobain said. It is mainly known for its Raab Karcher brand and has 220 sales outlets employing roughly 5,000 people, it said.

Write to Patrick Costello at patrick.costello@dowjones.com.

(END) Dow Jones Newswires

May 20, 2019 03:12 ET (07:12 GMT)

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