Saint Gobain in talks to buy Australia's CSR, Bloomberg reports (updated)

CSR

21/02/2024 05:32

(Adds details from the report and background paragraph 2
onwards)
       Feb 21 (Reuters) - French construction materials group
Saint-Gobain  SGOB.PA  is in initial talks to acquire Australian
building materials firm CSR Ltd  CSR.AX , Bloomberg News
reported on Wednesday.
    The companies are working with advisers to narrow down on a
deal, the report said, citing people familiar with the matter,
with one of them adding that St. Gobain has lined up financing
for a potential transaction.
    CSR shares rose about 17.4% on Wednesday and were halted for
trading. It had a market value of A$3.23 billion ($2.12
billion), as of last close, according to LSEG data.
    CSR and Saint Gobain did not immediately respond to Reuters'
request for comment.


($1 = 1.5235 Australian dollars)

 (Reporting by Kanjyik Ghosh; Editing by Sonia Cheema)
 ((Kanjyik.Ghosh@thomsonreuters.com;))