January 8, 2019 / 7:09 AM / 5 months ago

BRIEF-St Gobain in talks over sale of its silicon carbide division

Jan 8 (Reuters) -

* ENTERS INTO EXCLUSIVE DISCUSSIONS FOR SALE OF ITS SILICONE CARBIDE DIVISION

* EXCLUSIVE AGREEMENT WITH PRIVATE EQUITY FIRM OPENGATE CAPITAL AFTER HAVING RECEIVED A PURCHASE OFFER TO ACQUIRE THE GROUP’S SILICON CARBIDE DIVISION.

* FIRM AND BINDING OFFER IS NOT SUBJECT TO ANY FINANCING CONDITIONS

* Saint-Gobain is a worldwide leader in silicon carbide grains and powders with annual sales of around €120 million

* Transaction is part of Saint-Gobain’s announced objective to divest businesses representing sales of at least €3 billion by the end of 2019

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