A long-term investor
Wendel is a hands-on investor and shareholder that assists sector-leading companies in their long-term development. Wendel's business model combines the entrepreneurial passion born of a long family tradition with a culture of performance and accountability.
News
14 May 2013
WENDEL: GROWTH IN CONSOLIDATED Q1 2013 SALES OF 3.0%
Read more [+]24 April 2013
TWO SUCCESSFUL BOND TRANSACTIONS TOTALING €300 MILLION - STANDARD & POOR'S RATING UPGRADED TO BB+, STABLE OUTLOOK
Read more [+]15 April 2013
ANNUAL GENERAL MEETING SET FOR MAY 28, 2013
Read more [+]09 April 2013
WENDEL: 2012 REFERENCE DOCUMENT
Read more [+]28 March 2013
Wendel's corporate governance: renewal and continuity
François de Wendel appointed as Chairman of Wendel's Supervisory Board - Ernest-Antoine Seillière appointed as Wendel's Honorary Chairman - Frédéric Lemoine and Bernard Gautier reappointed for four years as Chairman and Member of the Executive Board, respectively - Appointment of three new Members of the Supervisory Board to be submitted for shareholders approval at the Annual Meeting
Read more [+]28 March 2013
WENDEL: SOLID 2012 RESULTS AND NAV UP 56% OVER THE YEAR
Net asset value (NAV) up 56% in 2012 - NAV at €132.5 as of March 18, 2013, or €6.56 billion - Positive results tempered by a difficult economic environment and a reduction in the scope of consolidation: Consolidated sales of €6,702 million, up 12.6% / Net income from business sectors down 10.6% at constant scope / Non-recurring income of €58.8 million, impacted by gain on sale of Deutsch and write-down of Saint-Gobain shares / Net income, Group share, of €221.1 million (vs. €525.4 million in 2011) Financial structure further strengthened: Gross debt reduced by €750 million in 2012 / Sound cash position of €705 million as of March 18, 2013 / €400 million in new five-year bank financing - Wendel is ready to invest €2 billion in the next four years - Wendel lifts its investment in IHS to $176 million and becomes IHSs largest shareholder - Ordinary dividend of €1.75 per share, up 35%, to be proposed at the Annual Shareholders' Meeting on May 28, 2013
Read more [+]06 December 2012
INVESTOR DAY 2012: NET ASSET VALUE OF €106.7 PER SHARE, UP 39.3% OVER 12 MONTHS
First direct investment in Africa via Oranje-Nassau Développement - Cancellation of 2% of share capital at end-November
Read more [+]13 November 2012
WENDEL: INCREASE IN CONSOLIDATED Q3 2012 SALES
3rd quarter 2012 sales: €1,720 million, up 14.6% - Nine-month 2012 sales: €4,980 million, up 13.5%, including 5.1% organically - Financial structure further strengthened in the 3rd quarter: Successful 2019 bond issue & €126.4 million in bonds repurchased since the start of the year - 878,000 shares repurchased in 2012 and 2% of share capital cancelled - First direct investment in Africa via Oranje-Nassau Développement
Read more [+]29 October 2012
Wendel signs its first direct investment in Africa and selects the telecommunication infrastructure sector
Wendel and its subsidiary Oranje-Nassau Développement announce the signing of a subscription agreement with IHS Holding to acquire a significant equity stake1 in this company.
Read more [+]03 October 2012
Mr. François de Mitry submitted his resignation to the Supervisory Board of Wendel on September 13.
As a result of assuming new professional responsibilities in the investment fund Astorg Partners, Mr. François de Mitry submitted his resignation to the Supervisory Board of Wendel on September 13 - The Supervisory Board recognized it during its meeting on October 2, 2012 and thanked Mr. François de Mitry for his contribution to its work since September 2004.
Read more [+]01 October 2012
Appointment of Bertrand Dumazy as CEO of Materis Paints' business
Wendel and Materis are pleased to announce the appointment of Bertrand Dumazy as CEO of the Materis Paints business as of October 1, 2012 - He succeeds René Riu, Executive Vice-President of the group, who developed and managed the Paints' business at Materis since leaving the Lafarge group at the end of the 1990s - René Riu has been appointed as advisor to Olivier Legrain, Chairman of Materis - Like René Riu, Bertrand Dumazy will also be Executive Vice-President and member of the Executive Committee of the Materis group
Read more [+]07 September 2012
Wendel: successful bond issue of €400 million, maturing in September 2019
Wendel successfully carried out a bond issue today totaling €400 million and maturing in September 2019 - The net proceeds of the issue will be used for Wendel's general corporate purposes in the context of its investment strategy and ongoing improvement of its financial structure by refinancing its shorter-term debt.
Read more [+]30 August 2012
WENDEL: NET INCOME, GROUP SHARE ROSE SHARPLY,AND DEBT DECLINED IN H1 2012
- H1 2012 sales: €3,259.9 million, up 12.9% overall and 5.1% organically - Net income, Group share: €724.8 million, up 60.2% -Financial structure further strengthened: ( Reduction in gross debt of €889 million since January 1, 2012 and cumulative reduction of €4.6 billion since the beginning of 2009 - Sound cash position of €874 million as of August 21, 2012 - €960 million in proceeds from sale of Deutsch - Wendel's rating (S&P) upgraded to BB on April 11, with a stable outlook - NAV as of August 21, 2012: €4.6 billion, or €90.7 per share, up 20.9% year-on-year (up 22% since January 1, 2012) -Wendel has repurchased 450,000 shares since January 1, 2012; the Company now holds 4.4% of its shares in treasury
Read more [+]20 August 2012
Wendel has learned via the press, that the Autorité des marchés financiers (AMF), the French securities regulator, is conducting an investigation into possible illegal insider trading on Wendel shares
Wendel has learned via the press, that the Autorité des marchés financiers (AMF), the French securities regulator, is conducting an investigation into possible illegal insider trading on Wendel shares - Wendel is not aware of the events if any that led to the investigation or to this leak - Wendel emphasizes, however, that the investigation is focusing on trading in Wendel shares and not specifically "on Wendel" or on "insider trading at Wendel", as has been reported in certain media...
Read more [+]03 July 2012
Wendel and its company Materis announce: A strategic acquisition for Materis' Mortars business - Final success of Materis' debt renegotiation - The pursuit of the strategic review of Materis' portfolio
ParexGroup, Materis' Mortars business, completed a strategic acquisition in China in the façade industry - ParexGroup, one of the global leaders in mortars, acquires the company Suzuka, leading player on the organic textured coatings market - With an industrial site and a laboratory in Shanghai and a commercial network in central and western China, which will complete ParexGroup's one (800 sales outlets in that country), Suzuka's sales rose sharply to € 13 million in 2011 with a high level of profitability - It's the second external growth operation of Materis this year after the acquisition in May of Elmin, main bauxite supplier of Kerneos, its Aluminates business
Read more [+]12 June 2012
2011 dividend payment
As indicated in the prospectus approved by the Autorité des Marchés Financiers (AMF) dated May 14, 2012, under Number 12-204 and pursuant to the fourth resolution approved by the Combined Shareholders' Meeting of June 4, 2012, the Legrand shares issued by Wendel to its shareholders are granted to their opening price on June 12, 2012 - That price is € 24,975 - The parity of distribution of one (1) action Legrand share for every fifty (50) Wendel shares held is confirmed - To determine their taxable income, shareholders should consider that distribution in specie of Legrand shares represents earnings per Wendel share equal to one fiftieth of the share price mentioned above (i.e € 0,4995) which is treated for taxation as an ordinary dividend.
Read more [+]06 June 2012
2012 Combined Shareholders Meeting
Wendel's Combined Shareholders' Meeting was held on 4 June 2012 under the chairmanship of Ernest-Antoine Seillière, Chairman of the Supervisory Board - Quorum was established at 65.78% of shares, i.e 31,703,293 shares and 53,205,805 voting shares - 399 shareholders attended the General Meeting, representing 18,340,707 shares and 36,414,303 voting shares - 40 were represented, representing 673,009 shares and 1,275,791 voting shares - 783 voted by post, representing 9,086,923 shares and 9,529,280 voting shares - 2,153 shareholders, representing 3,602,654 shares and 5,986,431 voting shares, gave their proxy to the Chairman
Read more [+]01 June 2012
WENDEL: NAV AT €93.6 PER SHARE DESPITE A DIFFICULT ENVIRONMENT OVER THE LAST 12 MONTHS
Net asset value totaled €93.6 per share as of May 24, 2012 - Financial structure further strengthened: Gross debt reduced by €379 million since the beginning of 2012, Financial structure further optimized, Sound cash position of €1,358 million as of May 24, 2012, - Dividend of €1.30 per share (up 4%), plus one Legrand share for every 50 Wendel shares held, to be proposed to shareholders at their Annual Meeting on June 4, 2012
Read more [+]15 May 2012
Wendel announces the successful completion of Materis debt renegotiation with a 91% extension rate and a strategic operation for the Aluminates activity
Wendel announced the successful completion of the debt renegotiation of its subsidiary Materis, marking the end of a process launched in September 2011, 18 months ahead of the first maturities, with the companys pool of 199 lenders - In parallel, Materis' Aluminates division completed a strategic operation - Kerneos, the global leader in calcium aluminates for the building chemistry and refractories industries, became the majority shareholder of Elmin, the leading European exporter of monohydrate bauxite, with a 54% stake
Read more [+]04 May 2012
WENDEL: 15% INCREASE IN CONSOLIDATED Q1 2012 SALES
1st quarter 2012 consolidated sales: €1,517.0 million, up 15.1% and 6.4% organically, with a strong first quarter of Bureau Veritas and Financial structure further strengthened: - sale of Deutsch finalized for €959 million; - gross debt reduced by €363 million since start of year; -Wendel's rating (S&P) upgraded to BB, with stable outlook, on April 11.
Read more [+]13 April 2012
WENDEL: ANNUAL GENERAL MEETING SET FOR JUNE 4, 2012
Wendel informs its shareholders that the Combined Ordinary and Extraordinary Annual General Meeting to be held on June 4, 2012 at 3.30 PM at the Palais Brongniart (Place de la Bourse, 75002 Paris) - The notice of meeting, being worth convening notice, is published today in the Bulletin des Annonces Légales Obligatoires (www.journal-officiel.gouv.fr/balo). It includes notably the agenda, projects of resolutions which will be presented to the Assembly and the main terms governing attending and voting
Read more [+]03 April 2012
Wendel sells Deutsch to TE Connectivity
After obtaining the necessary authorizations, Wendel and the Painvin family sold Deutsch to the industrial group TE Connectivity on April 3, 2012 - The enterprise value is about $2.1 billion and Wendel's net proceeds amount to €959 million
Read more [+]30 March 2012
2011 REFERENCE DOCUMENT
Wendel announces its 2011 Reference Document, was registered with the French Market Authorities on Friday, March 30, 2012, number D. 12-0241.
Read more [+]21 March 2012
WENDEL: SHARP RISE IN NET INCOME FROM BUSINESS SECTORS AND REDUCTION IN DEBT IN 2011
Consolidated 2011 sales: €5,953 million, up 17.5% - Net income from business sectors, Group share, up 25.9% at €321.4 million - Financial structure further strengthened: Reduction in gross debt of €1,587 million in 2011 ; Sound cash position of €795 million as of March 12, 2012 ; Proceeds from the future sale of Deutsch of approximately €960 million - NAV as of March 12, 2012: €5 billion, or €98.6 per share - Dividend of €1.30 per share (up 4%), plus one Legrand share for every 50 Wendel shares held, to be proposed to shareholders at their Annual Meeting on 4 June 2012
Read more [+]02 December 2011
Wendel's 10th annual Investor Day
- Net asset value: €76.6 per share on November 22, 2011, up slightly since August 22, 2011, despite market decline - The financial structure has been strengthened, with €300 million in debt reduction since end-August 2011, bringing total gross paydown in 2011 to €1,565 million - Projected sale of Deutsch to TE Connectivity for net proceeds of €954 million.
Read more [+]29 November 2011
WENDEL GRANTS EXCLUSIVITY TO TE CONNECTIVITY FOR THE SALE OF DEUTSCH
Wendel was approached by TE Connectivity (NYSE:TEL) and today received a firm offer to acquire all share capital of Deutsch, a world leader in connectors for harsh environments --- TE Connectivity proposes to acquire in euros all share capital of Deutsch for an enterprise value of around $2.1 billion - For Wendel, the net proceeds would amount to € 954 million - It would represent a capital gain of € 575 million and 2.4 of Wendel's total investment - The completion of the transaction should take place during the first half of 2012, subject to customary regulatory approvals
Read more [+]09 November 2011
WENDEL: INCREASE IN CONSOLIDATED Q3 2011 SALES
Increase in sales at all Group companies - Consolidated third-quarter 2011 sales: €1,615 million, up 13.6% - Consolidated nine-month sales: €4,752 million, up 18.1%, of which 7.6% was organic - Financial structure strengthened still further: Legrand share sales for a total of €334 million and €140 million in debt paid off in advance in November, bringing the reduction in gross debt to €1,405 million since the beginning of the year
Read more [+]09 November 2011
Wendel reports a circa € 191 million capital gain from the sale of a 4.9% stake of Legrand's share capital
Wendel and Kohlberg Kravis Roberts & Co. (together with its affiliates, "KKR") have announced the successful completion of the joint sale of 24.3 million shares of Legrand, representing 9.2% of Legrand's share capital, at a price of 24 euros per share - In this context, Wendel sold approximately 13 million shares or 4.9% of Legrand's share capital for a global amount of € 313 million and a capital gain of around € 191 million - Following the sale of approximately 890 000 Legrand shares at an average price of approximately 24 euros per share during last September and the transaction completed today, Wendel holds approximately 5.8% of the share capital of Legrand and approximately 10.1% of its voting rights. >>
Read more [+]09 November 2011
KKR and Wendel complete the sale of approximately 24.3 million shares of Legrand
Funds managed by Kohlberg Kravis Roberts & Co. (together with its affiliates, "KKR") and Wendel have completed the joint sale of 24.3 million shares of Legrand at a price of 24 euros per share >>
Read more [+]08 November 2011
Partial sale of Legrand's shares by KKR and Wendel
Kohlberg Kravis Roberts & Co. (together with its affiliates, "KKR") and Wendel announce that funds managed by them and their affiliates are intending to sell in the market a total of approximately 24.3 million shares, consisting of approximately 11.3 million shares to be sold by KKR and approximately 13 million shares to be sold by Wendel - Such aggregate amount represents approximately 9.2% of the share capital of Legrand as of October 31, 2011
Read more [+]04 October 2011
WENDEL ACQUIRES THE MECATHERM GROUP VIA ORANJE-NASSAU DÉVELOPPEMENT
Wendel today confirms that the acquisition of the Mecatherm group has been completed, via Oranje-Nassau Développement, at an enterprise value of approx. €170 million - Wendel will hold 98% of the capital, alongside management, who will hold the remaining shares.
Read more [+]07 September 2011
Wendel: appointment of Christine Anglade-Pirzadeh as Director of Communications and Sustainable Development
Christine Anglade-Pirzadeh from 2011.10.10 -Christine Anglade-Pirzadeh was Director of Communication of the French Financial Markets Authority's (AMF) which she joined in 2000 - She was Policy Officer with the French Prime Minister's Office (Direction des Media) from 1998 to 2000 - She began her career in the editorial staff of la Correspondance de la Presse - Christine Anglade-Pirzadeh, 40, holds a Master in European and International Law (Paris I) and a Master Degree in Communication law (Paris II).
Read more [+]31 August 2011
Wendel further strengthens its financial position and posts a sharp increase in earnings in H1 2011
- Consolidated sales up 20.6% at €3,136.9 million. - Strong growth of net income from business sectors, Group share, up 41.9% to €174.8 million. - Financial structure further strengthened since the start of the year, with gross debt reduced by €1,265 million (nearly €3.4 billion since 2009) - Very substantial room for maneuver, with more than €1 billion in cash and €1.4 billion in undrawn credit lines - Net Asset Value: €75 per share, impacted by the sudden drop in financial markets. - Operating outlook in the Group's companies in line with guidance announced at the start of the year
Read more [+]26 July 2011
Wendel : closing of the acquisition by Helikos of Exceet, the European Market Leader in Embedded Intelligent Electronic Systems.
Wendel takes note of the closing today of the acquisition of Exceet Group AG, the European Market Leader in Embedded Intelligent Electronic Systems, by Helikos, renamed " Exceet Group SE ", listed on the Frankfurt stock exchange. Wendel, sponsor of Helikos through Oranje-Nassau Développement, owns 28.4% of the public shares and 30.2% of the voting rights and capital of Exceet This stake could mechanically evolve in the future if Exceets stock price reaches certain thresholds.
Read more [+]21 July 2011
Wendel supports Helikos' success by becoming a shareholder in Exceet, the European Market Leader in Embedded Intelligent Electronic Systems
Wendel, the founder of Helikos through Oranje-Nassau Développement, announces that it will become a shareholder in Exceet Group AG, the European market leader in embedded intelligent electronic systems, following the approval of the acquisition of Exceet by Helikos' extraordinary general meeting which was held today - The closing of the acquisition is expected to occur on July 26, 2011 - Wendel will then own 28.4% of the public shares and 30.2% of the voting rights of Helikos - This stake could mechanically evolve in the future if Exceet's stock price reaches certain thresholds
Read more [+]13 July 2011
Wendel: New Significant Step in the Proposed Acquisition by Helikos of Exceet Group AG, European Market Leader in Embedded Intelligent Electronic Systems
Helikos indicated on July 11, 2011 that an agreement between Wendel1 and Ventizz, current shareholder of Exceet, had been reached - Pursuant to that agreement, Wendel agreed to exercise its purchase option as founder of Helikos, in order to limit to 25.51%, the redemptions of public shares that Helikos has received in connection with the proposed acquisition of Exceet and to ensure that Helikos contributes a minimum of €15 million in cash to Exceet in a capital increase - In this context, and on the basis of its confidence in Exceet's company quality and its mid- and long-term development prospects, Wendel announces that it exercised on July 12, 2011 its option to purchase, if the acquisition of Exceet is completed, 7 911 554 Helikos Public Shares, out of which, in accordance with the agreement of July 11, 2011, 2 762 283 Public Shares, i.e. €27.8 million, will be financed by Wendel and 5 149 271 Public Shares, i.e. €51,8 million, will be financed by Ventizz, Exceet's management and other investors. For its part, Helikos will redeem 5 101 305 Public Shares, i.e 25.51% of its capital...
Read more [+]11 July 2011
Wendel: signature of a share purchase agreement to acquiring the MECATHERM Group, the world leader in industrial bakery equipment
Having entered into exclusive negotiations with funds advised by Alpha on June 30th, Wendel announces the signature, through its subsidiary Oranje-Nassau Développement, of a share purchase agreement with a view to becoming the majority shareholder of the MECATHERM Group - The MECATHERM Group's Works Councils gave the transaction a unanimous positive opinion - Wendel's offer values the MECATHERM Group at €170 million, which corresponds to 9 times EBITA - Subject to receiving the necessary approvals from the competition authorities, the definitive acquisition of the Group MECATHERM is expected to take place during the third quarter of 2011.
Read more [+]30 June 2011
WENDEL : Exclusivity agreement in view to acquire MECATHERM, the world leader in industrial bakery equipment
Read more [+]22 June 2011
Deutsch appoints new CEO
Bertrand Dumazy has been appointed CEO of Deutsch Group, the world leader in high-performance connectors and subsidiary of Wendel Group _ He replaces Jean Marie Painvin, who, in his capacity as CEO, was responsible for Group operations - Since Wendel acquired Deutsch in April 2006, Mr. Painvin has contributed to the success of the Group, navigating through the recession in an exemplary manner - Jean Marie Painvin has taken over the position of Chairman of Deutsch, and he will also be responsible for the Group's partnerships and acquisitions
Read more [+]21 June 2011
Helikos SE Postpones Extraordinary General Meeting of Shareholders and Special Meeting of Class A Warrantholders
Read more [+]07 June 2011
WENDEL SUPPORTS HELIKOS IN ITS INTENT TO ACQUIRE A FAST GROWING TECHNOLOGY COMPANY, EXCEET GROUP AG
Helikos, a company established with the support of Wendel and listed on the Frankfurt Stock Exchange with the aim of investing in a non-listed company, has reached an agreement to purchase, for a consideration consisting of 110.5 M€ in cash, 3 million new Helikos public shares and 9 million Helikos earn-out shares, the Swiss technology company Exceet Group AG.
Read more [+]30 May 2011
Wendel: 2011 Combined Shareholders' Meeting
Gérard Buffière and Humbert de Wendel are appointed as members of the Supervisory Board and Didier Cherpitel is reappointed - Dividend: €1.25 per share
Read more [+]30 May 2011
WENDEL: NET ASSET VALUE DOUBLED OVER THE LAST TWELVE MONTHS
Net asset value per share of €109.3 at 19 May 2011 - Debt without margin calls repaid in full - Non-listed subsidiaries valued at more than €1 billion
Read more [+]26 May 2011
Wendel and Saint-Gobain establish the principles and objectives of their long-term cooperation
Wendel and Saint-Gobain are satisfied that the agreements signed in March 2008 have allowed Saint-Gobain to develop in favorable conditions - The representation of Wendel on Saint-Gobain's Board of Directors, the creation of a Strategy Committee and the resulting high-quality discussions have helped to establish a constructive dialogue and efficient governance, and are likely to create favorable conditions for the Group's development over the long term
Read more [+]05 May 2011
EXTREMELY SHARP RISE IN CONSOLIDATED SALES (24.9%) IN FIRST-QUARTER 2011
- The rate of organic growth accelerates : +9.9% - Consolidated first-quarter 2011 sales: €1,443.9 million - Increase in activity for all of the Group's companies - Growth recovering in mature markets and solid growth maintained in emerging markets
Read more [+]15 April 2011
ACQUISITION OF PARCOURS VIA ORANJE-NASSAU DEVELOPPEMENT
Wendel confirms today the closing of Parcours's acquisition via its subsidiary Oranje-Nassau Développement, after obtaining the necessary authorizations - The invesment carried out by Wendel reachs €107 million, totally in equity, without additional debt - Founded in 1989, Parcours is the sole independent player of significant size in the operational leasing sector in France - The company enjoys an excellent track record over the last ten years with a five-fold increase in sales and which has achieved €247 million (IFRS) in 2010 - Parcours will continue and amplify its activity in France and in Europe, through the expansion of its value-added range of services' business model.
Read more [+]11 April 2011
Successful completion of a €300 million bond issue due in April 2018.
Wendel announced a successful transaction today involving the issue of €300 million bonds due in April 2018 - The net proceeds of this issue will be completely used to redeem banking debt with much shorter maturities - This transaction is therefore in line with the strategy initiated by Wendel in 2010 to increase the use of bond debt while reducing banking debt's amounts.
Read more [+]08 April 2011
2010 Annual Report and May 30, 2011 Combined Shareholder's Meeting
Information available concerning the 2010 Reference Document and the Annual General Meeting to be held on Monday, May 30, 2011 - Wendel announces its 2010 Reference Document, was registered with the French Market Authorities on Thursday, April 7th, 2011, number D. 11-0253 - Wendel informs his shareholders that the Combined Ordinary and Extraordinary Annual General Meeting to be held on May 30, 2011 at 15:30 a.m. at the Pavillon d'Armenonville (allée de Longchamp, Bois de Boulogne - 75116 PARIS).
Read more [+]23 March 2011
Wendel releases 2010 results - Return of growth
Consolidated sales up by 17.5% to €5,491 million - Income from business sectors nearly tripled: €443.3 million - Net income group share of €1,002.3 million - Gross debt down €951 million in 2010, with a simpler structure and extended maturities - Solid cash position of €1,763 million at 31 December 2010 - As of 14 March 2011, Net asset value of €98.2 per share, showing a strong growth as compared to 31 December 2010 - Dividend of €1.25 per share (+25%), to be proposed to the next Shareholders' Meeting on 30 May - Direct investment reinitiated: announcement of Parcours acquisition
Read more [+]22 March 2011
KKR and Wendel enter into a new shareholders' agreement relating to their shareholding in Legrand
KKR and Wendel have announced today that they have entered into a new shareholders' agreement (the existing shareholders' agreement and certain other related agreements between an affiliate of certain funds managed by Kohlberg Kravis Roberts & Co. L.P. ("KKR") and an affiliate of Wendel ("Wendel") relating to their interests in Legrand's share capital are due to expire on April 6, 2011) relating to their shareholding in Legrand (the "New Shareholders' Agreement") - Pursuant to the New Shareholders' Agreement, both parties have decided to continue co-operating with respect to the management of their shareholding as well as the governance of Legrand, and to act in concert with respect to Legrand
Read more [+]04 March 2011
Wendel reports a circa € 430 million capital gain from the sale of a 8.3% stake of Legrand's share capital
Kohlberg Kravis Roberts & Co. (together with its affiliates, "KKR") and Wendel have announced the successful completion of the joint sale of 40 million shares of Legrand, representing approximately 15.2% of Legrand's share capital, at a price of 28.75 euros per share -In this context Wendel sold approximately 21.8 million shares or 8.3% of Legrand's share capital for a global amount of € 627 million and a capital gain of around € 430 million - Following this transaction, Wendel holds approximately 11.1% of the share capital of Legrand and approximately 17.8% of its voting rights
Read more [+]04 March 2011
KKR and Wendel successfully complete the sale of certain Legrand stock
Funds managed by Kohlberg Kravis Roberts & Co. (together with its affiliates, "KKR") and Wendel have successfully completed the joint sale of 40 million shares of Legrand at a price of 28.75 euros per share - Of the 15.2% of Legrand's share capital sold in this transaction, 6.9% was sold by funds managed by KKR and its affiliates and 8.3% was sold by Wendel - Following this transaction, KKR holds approximately 10.1% of the share capital of Legrand and approximately 16.2% of its voting rights and Wendel holds approximately 11.1% of the share capital of Legrand and approximately 17.8% of its voting rights...
Read more [+]03 March 2011
Partial sale of Legrand's shares by its controlling shareholders
Kohlberg Kravis Roberts & Co. (together with its affiliates, "KKR") and Wendel announce that funds managed by them and their affiliates are intending to sell in the market a total of 40 million shares, consisting of approximately 18,2 million shares to be sold by KKR and approximately 21,8 million shares to be sold by Wendel. Such aggregate amount represents approximately 15% of the share capital of Legrand as of January 31, 2011. The transaction will be carried out through an accelerated book building to institutional investors
Read more [+]17 January 2011
Wendel decides to appeal the ruling of the French Financial Markets Authority's Enforcement Committee
Wendel has acknowledged the ruling of the French Financial Markets Authority's (AMF) Enforcement Committee regarding the objections filed by the AMF in July 2009, concerning events linked to Saint-Gobain, which took place in 2006 and 2007 - First, Wendel wishes to reiterate that Saint-Gobain and Wendel's relationship of confidence and partnership, which has been progressively built up over time, is excellent. Wendel is actively supporting Saint-Gobain's strategy, as a main shareholder with a 17.5% stake in its capital, double voting rights at shareholders' meetings and three directors on the Board - Wendel is extremely disappointed that, after eighteen months investigating the case, the Enforcement Committee has not followed the findings, analyses and conclusions of its own reporter, who had clearly exonerated Wendel. The Committee has used alternative reasoning which in no way considers the decisions taken by Wendel's management bodies and which is based on a series of unrelated elements, each of which has been construed against the company - Wendel regrets also that before, during and after the Enforcement Committee's hearing on 9 December, continuous public controversies have developed around Wendel and the AMF's role, damaging the calm atmosphere necessary for the analysis of this case - Wendel will appeal this ruling at the Paris Court of Appeal, which will hear in fact and law the evidence and key arguments presented by the Group in order to demonstrate that Wendel has complied with the law and the regulations in force at the time - Wendel will also highlight that the enforcement procedure is viciated by breach of procedural rules, despite the Committee's attempts in its report to defend its ruling, notably with regard to respecting the rights of the defence and the adversarial principle.
Read more [+]02 January 2011
Statement by Wendel following the publication of an article in the Journal Du Dimanche (JDD) newspaper, entitled "Le fisc s'attaque à la maison Wendel" (Wendel under attack from the tax authorities)
The allegations concerning Wendel published in the JDD on January 2, 2011 are erroneous - Wendel has not received any notification from the tax authorities concerning all or part of the €240 million mentioned - Wendel has not received any request or notification from URSSAF (French administrative body managing social security payments and funds) concerning events in 2007, which, as for tax purposes, are now beyond the prescriptive period - The rest of the article concerns the personal situation of individuals about which Wendel has no information, nor any comment to make.
Read more [+]02 December 2010
Wendel Investor Day "Investing in high-growth economies"
Net Asset Value at €85.7 at November 23, 2010, up 35.6% since August 25, 2010 and up 64.2% in one year - Increase in economic exposure of its Saint-Gobain shares from 81% to 87,4% resulting from a new sale of puts for €110M - Debt without margin calls reduced by €305M to €970M - High cash levels maintained at €1,944M
Read more [+]15 November 2010
Wendel: third-quarter 2010 confirms first-half trend
Consolidated third-quarter sales: €1,463.3 million, +23.1% compared to third-quarter 2009, including +8.5% organic growth - Nine-month consolidated sales: €4,174.4 million, +14.5%, compared to the first nine months of 2009, including organic growth of +5.1% - All Group companies confirm their 2010 targets - Wendel has sold its 46% stake in Stallergenes after 17 years with the company, generating a capital gain of circa €300 million
Read more [+]10 November 2010
Wendel sells its stake in Stallergenes to Ares Life Sciences
Wendel announces the signing through its subsidiary Oranje Nassau, of a share purchase agreement of its entire equity stake in Stallergenes (~46%) with Ares Life Sciences, an investment firm established by the Bertarelli family to invest in the healthcare industry, following the positive opinion of Stallergenes Works Council.
Read more [+]28 October 2010
Wendel gives exclusivity to Ares Life Sciences to acquire its stake in Stallergenes.
Wendel received today a firm and irrevocable offer from Ares Life Sciences, an investment firm established by the Bertarelli family to invest in the healthcare industry, to acquire all of Wendels equity interest in Stallergenes (46%). Wendel, through its subsidiary Oranje Nassau, and Ares Life Sciences have entered into an exclusivity period to finalise the transaction - The transaction price would be € 59 per share, meaning that Wendel's proceeds would amount to € 358.8 million. Wendel would generate a capital gain of around € 300 million and 35 times its investment.
Read more [+]20 October 2010
Successful bond transaction involving the issue of €300 million (in nominal) to be consolidated and form a single serie with existing bonds due in May 2016
Wendel today announced a successful transaction involving the issue of €300 million bonds which will be consolidated, form a single series with the existing 4.875% bonds due 2016 - As a result, the outstanding principal amount of the bonds due 2016 increased to €700 million
Read more [+]21 September 2010
Wendel reports a circa € 230 million capital gain from the sale of a 5.5% stake of Legrand's share capital
Kohlberg Kravis Roberts & Co. (together with its affiliates, "KKR") and Wendel announce the successful completion of the joint sale of 23.7 million shares of Legrand, representing 9% of Legrands share capital, at a price of 23.95 euros per share
Read more [+]21 September 2010
KKR and Wendel successfully complete the sale of a 9% stake in Legrand
Funds managed by Kohlberg Kravis Roberts & Co. (together with its affiliates, "KKR") and Wendel have successfully completed the joint sale of 23.7 million shares of Legrand at a price of 23.95 euros per share
Read more [+]20 September 2010
Partial sale of Legrand's shares by its controlling shareholders
Kohlberg Kravis Roberts & Co. (together with its affiliates, "KKR") and Wendel announce that funds managed by them and their affiliates are intending to sell in the market a total of 23.7 million shares, representing approximately 9% of the share capital of Legrand as of August 31, 2010, by way of an accelerated book building to institutional investors
Read more [+]01 September 2010
Wendel reports solid growth in H1 2010 income
Consolidated sales up +10.3% to €2,711 million - Strong growth in net income of business sectors (+256% to €220.3 million)- Outstanding performance of unlisted companies - Positive net income of €199.4 million - Net asset value up 19% compared to end of December 2009 at €63.2 per share
Read more [+]01 September 2010
Presentation of the Results of the First Half 2010
The Presentation of Wendel's 2010 Interim Results on Wednesday, September 1st 2010 at 10:00 am at The Pavillon Gabriel (5, avenue Gabriel à Paris) - A webcast of the Analyst meeting will be available, in French and English, on Wendel's Website: www.wendelgroup.com
Read more [+]04 June 2010
Wendel: 2010 Combined Shareholders' Meeting
Dominique Hériard Dubreuil and Guylaine Saucier are appointed as members of the Supervisory Board and Nicolas Celier is reappointed - Dividend: 1 euro per share
Read more [+]04 June 2010
Wendel : Net asset value doubled compared with 31 December 2008 to €55 per share at 31 May 2010
Net asset value per share of €55 at 31 May 2010 - Ongoing management of protections related to the financing of Saint-Gobain stake
Read more [+]14 May 2010
Combined Shareholders' Meeting 2010
06 May 2010
First-quarter 2010 sales: Wendel is recovering with first-quarter growth
Rebound in sales at unlisted companies - Sharp recovery in construction businesses in emerging markets - Consolidated first-quarter 2010 sales of €1,219 million - Organic growth of 2.7% including the contribution from Stahl over three months - Successful debt renegotiation at Deutsch and acquisition of 100% stake in its US retailer
Read more [+]03 May 2010
Wendel becomes the Founding Sponsor of the Centre Pompidou-Metz
Through this agreement, Wendel will become the founding sponsor of the Centre Pompidou-Metz, which will open to the public on May 11. Wendel is committed to working alongside this new institution over the next five years, to contribute to its development and influence on the French and international cultural stage
Read more [+]19 April 2010
The Annual General Meeting of the Wendel shareholders will be held on Friday, June 4, 2010
The Annual General Meeting of the Wendel shareholders will be held on Friday, June 4, 2010 in Paris, France (Pavillon d'Armenonville (allée de Longchamp, Bois de Boulogne - 75116 PARIS)
15 April 2010
2009 Reference Document Available
The 2009 Wendel Reference Document was filed with the French Financial Markets Authority (AMF) on April 13, 2010, under number D.10-0257
Read more [+]30 March 2010
Wendel releases 2009 Results - Financial flexibility restored to prepare for the future
Consolidated sales: limited decline to €4,865 million (-3.4%)- Net income from business sectors: €153 million, reflecting the significant impact of the crisis on the Group's companies - Net loss of €-809 million affected by significant reductions in book values, as announced in H1 2009 - Stronger financial structure thanks to debt restructuring, extended and reduced - Solid cash position of €2,179 million at 31 December 2009, with available cash of €1,496 million (+63% compared with end 2008)- Net asset value doubled compared with 31 December 2008 to €56.9 per share at 23 March 2010 - Stable dividend of €1 per share, to be proposed to the next Shareholders' Meeting - Outlook 2010-2013: towards new investments
Read more [+]24 March 2010
Clarification following information from KKR regarding Legrand
In respect of the Legrand shareholders agreement between them, Wendel has been advised by Kohlberg Kravis Roberts & Co. (" KKR ") of its affiliate's intention to conduct an operation of partial transfer of its shares in Legrand. Wendel decided not to join this operation
Read more [+]01 March 2010
Wendel announces that it holds a 92% stake in STAHL and has completed a successful financial restructuring with unanimous lenders support
€ 60 million investment by Wendel - Wendels stake in Stahl increased from 48% to 92% - Stahls total debt reduced from € 350 million to € 195 million
Read more [+]02 February 2010
Wendel announces the success of the initial public offering of Helikos
Wendel announces the success of the initial public offering of Helikos on the Frankfurt Stock Exchange, subscribed for 200 M€. This transaction is the largest on the Frankfurt Stock Exchange since mid-2008. Helikos' shares and warrants are expected to trading on February 4, 2010. Through this innovative project, Wendel restarts its investment policy by focusing on German Mittelstand companies with a strong development potential, in an economy well-oriented to take part in the worldwide recovery.
Read more [+]12 January 2010
Wendel supports the launch of the initial public offering of Helikos, a "Special Purpose Acquisition Company" (SPAC) dedicated to the German market
Helikos is a company dedicated to investing in a non-listed company in Germany. Following its IPO, and based on the initial amount of the offer, Helikos will seek to invest € 250 million in a German Mittelstand company with an enterprise value of between € 300 million and € 1 billion
Read more [+]03 December 2009
Investor Day 2009
Read more [+]03 December 2009
2009 Investor Day
Wendel announces on the occasion of its Investor Day in Paris on December 3, 2009, with the theme "Innovation: a springboard for recovery", the following items: - More than 95% of lenders support the proposed Stahl debt restructuring - Wendel has increased its economic exposure to Saint-Gobain shares from 64% to 73% via the sale of some of its puts for €163.4 million, - Exposure to the construction sector has been optimized, following the sale of 15 million Legrand shares. Wendel and KKR remain the controlling shareholders, with 25% of the shares and 32.5% of the voting rights each - €1,231 million in bank debt and a €300 million undrawn credit line have been extended, on top of the extensions already announced - Gross debt has been reduced by €667.5 million, including €467.5 million in early repayment - Net Asset Value is €52,2 per share as of November 30, 2009, up 40,3% from August 26, 2009
Read more [+]30 November 2009
INVESTOR DAY
The Group's unlisted companies will be presented to investors, financial analysts and journalists on Tuesday, December 3, 2009, in Paris at the Pavillon Cambon
Read more [+]24 November 2009
KKR and Wendel have successfully completed the placing of a 11% stake in Legrand
Funds advised by Kohlberg Kravis Roberts & Co. ("KKR") and Group Wendel announce the successful completion of the joint sale of 30 million shares of Legrand at a price of 18.50 euros per share. Both shareholders sold shares in the same proportions.
Read more [+]23 November 2009
Partial sale of Legrand's shares by its controlling shareholders
Funds advised by Kohlberg Kravis Roberts & Co. ("KKR") and Wendel announce that they are jointly selling in the market a total of 30 million shares, representing approximately 11% of Legrand, by way of an accelerated book building to institutional investors
Read more [+]05 November 2009
Wendel nine-month sales held up well, decline limited to 2.8%
Consolidated third-quarter 2009 sales: €1,188.9 million - Month-by-month improvement in sales of companies exposed for one year to the recession - Continued adaptation of Group's companies effective against the recession - Active support for Wendel Group companies - More steps to strengthen Wendel's financial structure and make it more flexible
Read more [+]28 September 2009
Wendel: Success of bond offer
Le présent communiqué est une publicité et non un prospectus tel que défini dans la Directive 2003/71/EC (telle que transposée par chaque Etat membre, la « Directive Prospectus »). Il ne constitue pas une offre publique de titres en France, aux Etats-Unis, en Italie ou dans tout autre Etats. Un prospectus a été établi et mis à disposition du public uniquement au Luxembourg conformément à la Directive Prospectus. Les investisseurs ne devraient proposer d'échanger, de souscrire ou d'acquérir les titres auxquels il est fait référence dans le présent communiqué que sur la base des informations contenues dans le prospectus portant sur ces titres et sous réserve des restrictions qui y sont décrites. L'offre d'échange auquel il est fait référence dans le présent communiqué n'est pas ouverte aux Etats-Unis ou en Italie, et est soumise, dans certains autres pays, à des restrictions légales et réglementaires spécifiques. Aucune communication et aucune information concernant l'offre ne peut être diffusée au public dans un quelconque pays dans lequel un enregistrement ou une autorisation serait requise. Aucune démarche n'a été ni ne sera entreprise dans tout pays autre que le Luxembourg.
Read more [+]21 September 2009
Wendel announces the launch of an offer in Luxembourg to exchange its 5.00 percent bonds due 2011
Le présent communiqué est une publicité et non un prospectus tel que défini dans la Directive 2003/71/EC (telle que transposée par chaque Etat membre, la « Directive Prospectus »). Il ne constitue pas une offre publique de titres en France, aux Etats-Unis, en Italie ou dans tout autre Etats. Un prospectus a été établi et mis à disposition du public uniquement au Luxembourg conformément à la Directive Prospectus. Les investisseurs ne devraient proposer d'échanger, de souscrire ou d'acquérir les titres auxquels il est fait référence dans le présent communiqué que sur la base des informations contenues dans le prospectus portant sur ces titres et sous réserve des restrictions qui y sont décrites. L'offre d'échange auquel il est fait référence dans le présent communiqué n'est pas ouverte aux Etats-Unis ou en Italie, et est soumise, dans certains autres pays, à des restrictions légales et réglementaires spécifiques. Aucune communication et aucune information concernant l'offre ne peut être diffusée au public dans un quelconque pays dans lequel un enregistrement ou une autorisation serait requise. Aucune démarche n'a été ni ne sera entreprise dans tout pays autre que le Luxembourg.
Read more [+]31 August 2009
First half 2009 results affected by the recession and non-recurring accounting losses
Net income from business sectors: E61.8M, reflecting excellent resilience in the Group's companies - Net loss of E901.3M, affected by significant reductions in book values - Improvement in the Group's financial condition through E781M in asset sales - Sound cash position of E2,553M at June 30, 2009 - Extension of E1,255M in bank debt and of an undrawn credit line for E600M achieved in July-August 2009 - Support for unlisted subsidiaries through successful negotiation with lenders - Net asset value: E37.2 per share as of August 26, 2009
Read more [+]06 May 2009
Oranje-Nassau Groep, a fully-owned subsidiary of the Wendel group, is to sell its energy activities
Following a strategic review of its activities, the Dutch group Oranje-Nassau, 100% subsidiary of Wendel, has signed an agreement with the intention of selling its oil and gas activities to a Dyas led consortium composed of ONH B.V. (a Dutch private investment company controlled by Marcel van Poecke), Dyas UK limited (100% owned subsidiary of SHV Holdings N.V.) and a Japanese international trading and investment firm.
Read more [+]