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Wendel SA Announces Sale Remaining Stake In Legrand SA

Monday, 10 Jun 2013 01:05pm EDT 

Wendel SA announced its intention to sell in the market the remaining 14.4 million shares still held in Legrand S.A. (Legrand), representing approximately 5.4% of the share capital of Legrand as of May 31, 2013. The transaction will be carried out through an accelerated book building to institutional investors. The transaction is part of Wendel's strategy to actively manage its investments, to renew its portfolio and to materialize its investment in Legrand after 11 years as reference shareholder. Following the transaction, Wendel will have sold its entire stake in Legrand. Book building will start immediately and will be managed by Goldman Sachs International acting as sole bookrunner. Wendel intends to issue a further press release upon successfully completing its sale of shares. 

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-0.14 -0.32%
7:58am EST