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BASIC INDUSTRIES: Saint-Gobain (SGOFP Baa1/BBB+/NR): Potential Asset Sale

BASIC INDUSTRIES
Credit BulletsCEEMEAEurozoneFranceBulletGlobalRegion

Not credit moving.

  • Bloomberg reports Saint-Gobain is evaluating a potential sale of its auto glass division. A potential €2.5bn valuation is mentioned.
  • It has the agreed acquisitions of Ovnivor for €740mn and FOSROC for €960mn closing in 1H25, following the larger CSR acquisition earlier this year for $3bn.
  • As it stands leverage is expected to be within the target 1.5-2x range. Standalone impact could reduce leverage by around 0.3x, but it’s clearly active in M&A.
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Not credit moving.

  • Bloomberg reports Saint-Gobain is evaluating a potential sale of its auto glass division. A potential €2.5bn valuation is mentioned.
  • It has the agreed acquisitions of Ovnivor for €740mn and FOSROC for €960mn closing in 1H25, following the larger CSR acquisition earlier this year for $3bn.
  • As it stands leverage is expected to be within the target 1.5-2x range. Standalone impact could reduce leverage by around 0.3x, but it’s clearly active in M&A.