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Wendel reaps 1 bln eur from Saint-Gobain stake sale
May 7, 2014 / 7:12 AM / in 4 years

Wendel reaps 1 bln eur from Saint-Gobain stake sale

PARIS, May 7 (Reuters) - French investment group Wendel said it raised about 1 billion euros ($1.39 billion) from the sale of a 4.3 percent stake in Saint-Gobain, Europe’s biggest supplier of construction materials.

Wendel said it retained a stake of approximately 12 percent in Saint-Gobain’s share capital and 20 percent of its voting rights.

Shares in Saint-Gobain fell 4.7 percent to 41.61 euros in early trading, the worst performers on the French blue-chip CAC 40 index. ($1 = 0.7177 Euros) (Reporting by James Regan; Editing by Lionel Laurent)

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