Saint Gobain launches bid for a stake in Sika
9th December 2014

Materials giant Saint Gobain is planning to acquire an interest in construction chemicals specialist Sika.
The €2.3bn move will see Saint Gobain acquire Schenker Winkler Holding AG which owns 16.1% of Sika ’s capital and 52.4% of its voting rights.

The board of Sika said they “do not support the change of control of Sika to Saint-Gobain.”

Sika’s bosses added: “The Board neither sees the industrial logic in the transaction, nor significant synergies for Sika.”
Saint Gobain said it is not planning to launch an offer for Sika’s remaining shares and “has full confidence in the company to continue developing the business.”

Saint Gobain added: “Sika is the world leader in construction chemicals and no. 2 worldwide for adhesives and sealants for its industrial applications.

“Its products and services draw on extensive technological expertise in waterproofing, soundproofing, sealing and bonding, and protecting and reinforcing structures.

“Given the proximity of Sika ’s activities with those of Saint-Gobain (Construction Products and Innovative Materials as well as Buildin g Distribution), the deal is expected to generate €100 million in synergies as from the second year (2017), and €180 million per year as from 2019.

“The deal will create value by the fourth year.

“The transaction is subject to clearance from the competent anti-trust authorities and is expected to be finalized in the second half of 2015 at the latest.”