The construction materials giant is continuing its global development strategy.
On Wednesday, the French group indicated that it had made an offer to the board of directors of the Australian CSR Limited.
Objective:
“Acquire the entire capital of CSR through a “scheme of arrangement” at a price of 9 Australian dollars in cash per share”,
according to the press release.
This would value the Australian company at €2.6 billion.
This is therefore an important operation looming for Saint-Gobain.
The Australian company is very similar, in its activity and business model, to Saint-Gobain.
It is present in plasterboard, insulation products and roofing products, just like the French construction materials specialist.
Above all, such an acquisition would allow Saint-Gobain to enter the Australian market for these construction products, confirming its global development strategy, with the desire to have leading positions.
Also read: How Saint-Gobain transformed itself into a profit giant
Created one hundred and fifty years ago, CSR is listed on the Australian Stock Exchange and has no major shareholder.
An important step has been taken, since its board of directors accepted the offer and the price proposed by Saint-Gobain.
However, the latter specifies that the operation has not been finalized and that it remains subject to the confirmatory
“due diligence”
examination .
The financial markets will be informed of the progress of discussions with CSR.