WENDEL: Sale of Cromology was completed
21 Januar 2022 - 8:30AM
WENDEL: Sale of Cromology was completed
PRESS RELEASE - JANUARY 21, 2022
Sale of Cromology was completed
After obtaining the necessary authorizations,
Wendel today announced it completed the sale of Cromology to
DuluxGroup, a subsidiary of Nippon Paint Holdings Co., Ltd. For
Wendel, the transaction generated net proceeds of €896 million or
€358 million above Cromology’s valuation in Wendel’s net asset
value published before the transaction announcement, i.e. as of
June 30, 2021.
This transaction is a milestone in Wendel’s
2021-24 roadmap, and its target to accelerate the redeployment of
its capital toward growth companies.
About WendelWendel is one of
Europe's leading listed investment firms. The Group invests in
Europe and
North America in companies which are
leaders in their field, such as Bureau
Veritas, Tarkett, Cromology, Stahl, IHS Towers,
Constantia Flexibles, and Crisis Prevention Institute. Wendel
often plays an active role as a controlling or
significant shareholder in its portfolio
companies. Wendel seeks to implement long-term
development strategies, which involve boosting growth and margins
of companies so as to enhance their leading market
positions.
Wendel is listed on Eurolist by Euronext
Paris.
Standard & Poor’s ratings: Long-term: BBB,
stable outlook – Short-term: A-2 since January 25, 2019
Moody’s ratings: Long-term: Baa2, stable outlook
– Short-term: P-2 since September 5, 2018
Wendel is the Founding Sponsor of Centre
Pompidou-Metz. In recognition of its long-term patronage of the
arts, Wendel received the distinction of “Grand Mécène de la
Culture” in 2012.
For more information: wendelgroup.com
Follow us on Twitter
@WendelGroup
- PR_Wendel_Cromology_Closing_01212022
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