Wendel has agreed to sell its 40% holding in PlaYce (formerly SGI Africa) to CFAO for net proceeds of €32.2
million, following an initial investment of €25.3 million at the end of July 2016.
PlaYce was created in 2015 by CFAO, primarily to support the development of the Carrefour brand, which
CFAO operates through a joint venture with the Group, across several West African countries.
Since inception, PlaYce has opened three shopping centers (two in Abidjan and one in Douala), representing
a total selling area of around 21,400 sq. m. (with over 15,000 additional sq. m. currently being developed)
and creating over 1,300 direct and indirect jobs (at PlaYce, its subcontractors and CFAO Retail).
In line with its strategy to refocus on large assets, Wendel has agreed with CFAO to sell its holding according
to the terms mentioned above.
Agenda
21.03.2019
Résultats annuels 2018 / Publication de l’ANR du 31 décembre 2018 (avant Bourse).
03.21.2019
2018 Full-Year Results / Publication of NAV as of December 31, 2018 (pre-market release).
About Wendel
Wendel is one of Europe’s leading listed investment firms. The Group invests in Europe, North America and Africa in companies which are leaders in their field, such as Bureau
Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and Allied Universal. Wendel plays an active role as a controlling or lead shareholder in these companies.
We implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through OranjeNassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder Tsebo in Africa.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 since January 25, 2019
Moody’s ratings: Long-term: Baa2, stable outlook – Short-term: P-2 since September 5, 2018
Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la
Culture” in 2012.
For more information:
Follow us on Twitter @WendelGroup
