Wendel restructures its debt
The investment company Wendel has been repaid 467.5 million euros of debt. These funds come partly from the sale of hedging its securities Saint-Gobain and the rest of his own cash.
The group Wendel has 17.5% stake in Saint-Gobain, a French group of building materials and distribution. The sale of options on securities held in this building group he helped to collect 163.4 million euros immediately reassigned to prepayment. The 300 million being supplied by the treasury Wendel.
At the same time, the group Wendel reported a deferred bank debt of $ 1.231 billion. The debt, originally composed of two tranches, is now split into seven tranches maturities between 2012 and 2015.An operation rescheduling of debt which should provide greater financial flexibility to the family holding company which holds stakes in Oranje-Nassau, Legrand, Stallergenes or Bureau Veritas.
The title gained 2.80% to 42.63 euros on the Paris Bourse.