Saint-Gobain says will continue discussions with Wendel over board seats |
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Published
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Thu, 22 Nov 2007 19:29
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PARIS (Thomson Financial) - Construction materials group Saint-Gobain said it will continue to discuss with Wendel possible board representation for the investment company.Saint-Gobain's board said in a press release it has taken note of the acquisition by Wendel of a stake, as well as its statements made upon crossing the thresholds of 5, 10 and 15 pct of capital.Wendel has raised its stake in Saint-Gobain in stages over the past few weeks.It said last week that it had increased its indirect stake to 16.56 pct of capital as of Nov 7, with 15.79 pct of voting rights. A week earlier, when it announced it had raised its stake to over 15 pct, Wendel said it intends to 'examine the possibility of board membership'.Announcing its crossing of the 10 pct threshold in October, Wendel said it does not intend to take control of Saint-Gobain and retains the right to continue buying or selling shares.tfn.paris@thomson.comgt/rwCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Wendel ups Saint-Gobain stake to 15.5 pct; says will consider board membership 