Saint-Gobain Enters Discussions for Sale of its Silicon Carbide Division
Saint-Gobain reports its annual sales of silicon carbide grains and powders to be around €120 million (approximately $138.4 million).
Saint-Gobain recently announced that it has moved another step forward in the acceleration of its portfolio management, reaching an exclusive agreement with private equity firm OpenGate Capital after having received a purchase offer to acquire the group’s silicon carbide division. This firm and binding offer is not subject to any financing conditions. Saint-Gobain reports its annual sales of silicon carbide grains and powders to be around €120 million (approximately $138.4 million).
According to Saint-Gobain, the transaction will be finalized after the usual information and consultation procedures with its relevant employee representative bodies. The transaction, which is also subject to the approval of the competition authorities, is expected to become effective in the first half of 2019. This transaction is part of Saint-Gobain’s announced objective to divest businesses representing sales of at least €3 billion (~ $3.4 billion) by the end of 2019.