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Saint-Gobain sells glass unit in Norway, Sweden to Mimir Invest

French building materials maker Compagnie de Saint-Gobain AG sold Glassolutions Norway and Sweden to Swedish private equity firm Mimir Invest AB.

The companies did not disclose the financial terms of the deal, which will be effective Jan. 11. Saint-Gobain said the divested unit will keep the Glassolutions brand under a franchise agreement.

The divested business is a manufacturer and distributor of glass products with an annual turnover of about €35 million. Saint-Gobain said it will remain a supplier of float glass, insulated glass units and high-performance glass in the region.

Disposing the glass-making unit in Norway and Sweden is part of Saint-Gobain's goal to divest businesses representing sales of at least €3 billion by the end of 2019.