Wendel to rejoin hunt for acquisitions - FT

LONDON Nov 3 (Reuters) - French investment company Wendel (MWDP.PA) has started looking for "modest" acquisitions, its new chief executive Frederic Lemoine told the Financial Times newspaper on Tuesday.

Acquisitions could be undertaken with other investors and would be "in the tens of millions of euros rather than hundreds of millions of euros," Lemoine told the FT, saying the financing is likely to come from banks.

Wendel had debt of 7.8 billion euros ($11.5 billion) at the end of June, mainly as a result of its 6 billion euro investment in Saint Gobain (SGOB.PA), the world's biggest building materials group, in 2007.

The private equity group has taken steps to extend its debt maturity. [ID:nLL65742]

Lemoine told the FT the debt level is "manageable" and the extension of debt maturity had given financial flexibility . (Reporting by David Sheppard; Editing by Carol Bishopric)