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Saint-Gobain in talks to sell silicon carbide unit to private equity company

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Saint-Gobain in talks to sell silicon carbide unit to private equity company

Compagnie de Saint-Gobain AG entered into exclusive discussions with OpenGate Capital LLC regarding a potential sale of its silicon carbide division to the private equity firm.

A prospective deal should be effective in the first half, subject to approval from relevant competition authorities.

Divesting the silicon carbide business is in line with Saint-Gobain's objective to shed units representing sales of at least €3 billion by the end of 2019, the company said.