Latest News
Saint-Gobain to divest Flovetro stake to JV partner
Friday 30 March 2012

30 March 2012 – French building materials and glass producer Saint-Gobain (EPA:SGO) said today it had agreed to sell its 50% stake in Italian flat glass producer Flovetro SpA to its joint venture partner NSG Corporation.

The parties expect to conclude the stock transfer on 2 April 2012, Saint-Gobain said in a press release, without disclosing the sum it will receive. Following the stake purchase, NSG will have full control over the Italian firm. The transaction comes after the French company upgraded its site in Pisa last year, it added.

Flovetro operates a flat glass production float line in San Salvo.
Date Published: 30/03/2012
Target: Flovetro SpA
Country: Italy
Sector: Construction/Real estate
Vendor: Compagnie de Saint-Gobain SA
Buyer: NSG Corporation