Brief: Wendel To Sell Stahl’S Wet-End Division to affiliate of Syntagma Capital

Wendel SE

18/11/2024 07:52

Nov 18 (Reuters) - Wendel SE  MWDP.PA :
    * WENDEL WELCOMES THE SALE OF STAHL’S WET-END DIVISION THAT
MARKS
AN IMPORTANT STEP IN THE GROUP’S STRATEGIC JOURNEY
    * ANNOUNCES PROPOSED DIVESTMENT OF ITS WET-END LEATHER
CHEMICALS
BUSINESS TO AN AFFILIATE OF SYNTAGMA CAPITAL
    * PROPOSED TRANSACTION IS SUBJECT TO CUSTOMARY CLOSING
CONDITIONS,
INCLUDING THE COMPLETION OF THE WORKS COUNCIL CONSULTATION
PROCESS
    * DIVESTMENT WILL INCLUDE 428 EMPLOYEES,  THE FULL WET-END
PORTFOLIO AND MANUFACTURING FACILITIES IN ITALY AND INDIA
    * PRO FORMA FOR THE SALE OF THE WET-END CHEMICALS BUSINESS
AND
ACQUISITION OF WEILBURGER GRAPHICS, STAHL'S 2023 SALES WOULD
AMOUNT TO €786 MILLION
    * CEO SAYS ACCELERATING INVESTMENTS IN GROWTH, NEW
MANUFACTURING
PLANT IN SINGAPORE, DOUBLING CAPACITY IN CHINA, INVESTMENTS IN
NEW CENTERS OF EXCELLENCE IN ASIA, THE US AND EUROPE
    * TRANSACTIONS TO HAVE ACCRETIVE IMPACT ON STAHL'S EBITDA
MARGIN

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