Saint-Gobain is said to be launching the sale of Verallia after selling Verallia’s US operations to Irish Ardagh, and amid a complicated takeover situation for Saint-Gobain in Switzerland.
French building materials group Saint-Gobain is reportedly launching the sale of its European glass bottle maker Verallia in a potential EUR 3 billion (USD 3.45 billion) deal.
The deal comes after the French group sold Verallia’s US operations to Irish Ardagh for USD 1.7 billion, and amid a complicated takeover situation for Saint-Gobain in Switzerland.
Plans by Saint-Gobain to spin off the whole of Verallia, which makes jars for Nutella spread and bottles for Dom Perignon champagne, were shelved in 2011 when markets were rocked by the deepening euro zone debt crisis.
The sale of the remaining Verallia business, which is being organised by JP Morgan and BNP Paribas is expected to be launched in late February or March.