trending Market Intelligence /marketintelligence/en/news-insights/trending/9cbdtpcjdtna-dpri6z1jw2 content esgSubNav
In This List

Wendel completes sale of 4.73% stake in Bureau Veritas

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Wendel completes sale of 4.73% stake in Bureau Veritas

French private equity firm Wendel completed the sale of 20,920,503 shares in local certification company Bureau Veritas SA for total proceeds of about €400 million.

The shares, representing a 4.73% stake, were offered in a private placement carried out through an accelerated bookbuild process. The deal resulted in a capital gain of roughly €300 million, which has had no impact on Wendel's income statement.

Following the transaction, Wendel now holds an approximately 35.8% stake in Bureau Veritas' share capital and 51.9% of its voting rights. The sale is expected to increase the latter's free float and improve the liquidity of its shares. Wendel will retain control of the business, it added in a release.

The private equity firm added that it has entered into a commitment not to carry out a similar market transaction in the next six months, subject to certain customary exceptions.

Goldman Sachs served as the book runner on the placement.