Saint-Gobain rises on €1.5 billion Nordic sale

Compagnie de Saint Gobain SA

Mon 10:22

** Shares in Saint-Gobain SGOB.PA rise more than 5% after it agrees to sell its Nordic distribution business in a €1.5 billion ($1.7 billion) deal, seen supporting its growth strategy
** Davy Research calls the deal "meaningful", with a 10.4 times EBITDA multiple seen as a good outcome for Saint-Gobain
** "The transaction also provides the group even more scope to pursue its growth ambitions and execute its 'Lead & Grow' strategy," the broker adds
** The deal with Finnish grocery retailer Kesko KESKOB.HE is expected to be finalised by early 2027
** Including today's gains, stock is down 8% year-to-date

($1 = 0.8616 euros)
  

 (Reporting by Clement Martinot)
 ((Clement.Martinot@thomsonreuters.com;))