Allied Universal: Wendel finalizes the sale of an additional portion of its holding

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On December 13, 2019, Wendel and other Allied Universal shareholders finalized the sale of a majority stake in Allied Universal to Caisse du dépôt et placement du Québec and to a new investment group headed by Warburg Pincus and a subsidiary of the J. Safra Group.   

Under the terms of the transaction, Wendel sold 79% of its holding in Allied Universal for net proceeds of $721 million and retained a 6% ownership interest in the company. 

The transaction values Wendel’s investment in Allied Universal at around $920 million, including both realized and unrealized portions, or 2.5 times total invested capital in dollar terms. The valuation represents a $670 million uplift from the most recent figure in Wendel’s net asset value, which dates to November 16, 2018.

« This transaction gives Wendel additional resources to grow its portfolio over the long term and seek out new high-quality assets ». David Darmon, Group Deputy CEO

For more information, please read the press release published on December 13, 2019.

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