REG - Compagnie St-Gobain - Saint-Gobain in advanced talks to acquire CSR

Compagnie de Saint Gobain SAAnnouncement

21/02/2024 09:15

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RNS Number : 9218D  Compagnie de Saint-Gobain  21 February 2024

 

Saint-Gobain in advanced talks to acquire CSR

 

Saint-Gobain confirms that it has approached the Board of CSR Limited, a
leading Australian building materials company listed on the Australian
Securities Exchange, with a non-binding indicative offer to acquire all of
CSR's issued share capital by way of a scheme of arrangement at an offer price
of A$9.00 cash per share ((1)).

 

Saint-Gobain's offer is subject to confirmatory due diligence, and the entry
into binding transaction documents.  Any agreed transaction will also be
subject to the satisfaction of customary conditions, including regulatory
approvals and CSR shareholders' approval.

 

Saint-Gobain believes that the combination is an attractive opportunity for
both companies leveraging our long-term partnership with similar business
models, cultural fit and development opportunities. This acquisition would be
fully aligned with Saint-Gobain's strategy as a worldwide leader in light and
sustainable construction and an opportunity to enter the Australian market.

 

The Board of CSR has announced that it has unanimously resolved to pursue the
offer at an agreed price of A$9.00 per share subject to entry into binding
transaction documents. Saint-Gobain is currently completing its final
confirmatory due diligence. No transaction is assured at this stage and
Saint-Gobain will keep the market informed on the progress of the transaction
as required under applicable rules.

 

(1) Under Saint-Gobain's proposal, CSR would be entitled to pay a final
dividend of up to A$0.25 per share for its financial year ending 31 March
2024, which would be deducted from the cash offer price

 

 
About Saint-Gobain
Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group's commitment is guided by its purpose, "MAKING THE WORLD A BETTER HOME".
 
€51.2 billion in sales in 2022
168,000 employees, locations in 75 countries
Committed to achieving Carbon Neutrality by 2050
 
For more information about Saint-Gobain, visit
www.saint-gobain.com (https://www.saint-gobain.com/en)
 and follow us on  X
@saintgobain (https://twitter.com/saintgobain)

 
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