PARIS, Jan 24 (Reuters) - Saint-Gobain (SGOB.PA) expects to
complete the sale of its packaging unit during 2008, the French
conglomerate's chief said on Thursday, predicting the sale would
be made in "good conditions" despite a troubled credit market.
"The momentum in the packaging unit is very good so I have
no worries," Pierre Andre de Chalendar told a news conference on
Saint-Gobain's results.
"I have the intention of selling it this year," Chalendar
said, adding he envisaged a sale of the whole unit.
Asked whether deteriorating credit conditions could make the
sale more difficult, Chalendar said: "I think we will sell
packaging in good conditions... There are different kinds of
acquirers."
"The credit situation could be a handicap for some
(acquirers) but not for others," Finance Director Benoit Bazin
added.
Talking about Wendel, which has increased its stake in
St-Gobain to nearly 18 percent, Chalendar said that the
investment's group's ideas were "in line" with Saint-Gobain's
strategy.
(Reporting by Marie Maitre, Editing by Sudip Kar-Gupta)
Stocks | Mergers & Acquisitions
