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Wendel (MF.PA)
- Globe Newswire
WENDEL: Tsebo’s shareholders transfer their shares to the investment arms of its senior lenders in a consensual transaction
Tsebo’s shareholders transfer their shares to the investment arms of its senior lenders in a consensual transaction Wendel invested in Tsebo in 2017 and contributed further capital to the company in 2019 to strengthen its balance sheet. The transaction will also result in the settlement of a guarantee granted in 2017 in connection with the investment by B-BBEE partners in Tsebo. The transfer of the controlling shareholding to a South African consortium of financial investors and management ensures that Tsebo’s balance sheet is strengthened, it’s strong B-BBEE credentials are preserved and the business is well-positioned to grow into the future. Wendel’s financial statements and Net Asset Value as of June 30, 2020 already reflect these transactions. The transactions are subject to finalization of the legal documentation and to South African Reserve Bank approval and should be closed in the coming months. 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, Cromology, Stahl, IHS, Constantia Flexibles and Crisis Prevention Institute. Wendel plays an active role as a controlling or significant 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. 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: wendelgroup.com Follow us on Twitter @WendelGroup Agenda 11.04.2020 2020 Investor Day / Presentation of NAV as of September 30, 2020, and Q3 2020 trading update (publication post-market release on 11/03/2020). 03.18.2021 2020 Full Year Results - Publication of NAV as of December 31, 2020 (pre-market release). 04.28.2021 Q1 2021 Trading update - Publication of NAV as of March 31, 2021 (pre-market release). 06.03.2021 Annual General Meeting 07.29.2021 H1 2021 results - Publication of NAV as of June 30, 2021, and condensed Half-Year consolidated financial statements (pre-market release). 10.28.2021 Q3 2021 Trading update - Publication of NAV as of September 30, 2021 (pre-market release). 12.02.2021 2021 Investor Day - Meeting to take place in the morning Attachment 20201019WendelTsebo
- Globe Newswire
WENDEL: Stahl has successfully achieved a process of Amend & Extend of its current debt facilities
Stahl has successfully achieved a process of Amend & Extend of its current debt facilities Wendel welcomes the successful achievement of a process of Amend and Extend of the debt facilities of Stahl, the global leader in the specialty chemical treatment of leather, and high-performance coatingsThis Amend and Extend enables an extension of maturities of its existing RCF and Term Loan A from December 2021 to September 2023 and its existing Term Loan B facility from June 2022 to December 2023. In addition, covenants have been temporarily increased until September 2021. It also provides Stahl with additional liquidity by rescheduling mandatory repayments on amortizing debt. In exchange for these improvements, margins have been increased by 50bps across the grid. As a result, Stahl cost of debt now stands at L+250bps and L+275bps across TLA and TLB tranches respectively.This successful transaction has been secured with 15 banking partners that have been lenders of Stahl since 2016 at least.As of June 30, 2020, Stahl’s net debt to EBITDA ratio was 2.1x as per credit documentation.Wendel is a major shareholder of Stahl with 67.5% of the share capital.Attachment * 20200802_Wendel_Stahl
- Globe Newswire
WENDEL: Information about IHS - Towers IHS Towers Exploring a Potential Registered IPO in the US
Information about IHS TowersIHS Towers Exploring a Potential Registered IPO in the USIHS Holding Limited (“IHS Towers” or “IHS”) announced on August 14, 2020, in accordance with Rule 135 under the Securities Act of 1933, as amended, that it is exploring a potential registered initial public offering in the United States. IHS Towers also indicated that: * the timing, number of shares to be offered and price range of the proposed offering have not yet been determined; * any proposed offering would commence after the completion of a customary U.S. Securities and Exchange Commission review process of a registration statement relating to the proposed offering and subject to market and other conditions. Additional information regarding IHS, in particular recent company presentations, are available on https://www.ihstowers.com/ This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Cautionary Statement Regarding Forward-Looking Statements Certain statements contained in this press release constitute forward-looking statements. These forward-looking statements are based on management’s current expectations as well as estimates and assumptions prepared by management that, although they believe to be reasonable, are inherently uncertain. These statements involve risks and uncertainties, including, but not limited to, the following: IHS may determine not to conduct a registered initial public offering, due to a number of potential important factors, including conditions in the U.S. capital markets, economic, competitive, governmental and technological factors outside of IHS Towers’ control that may cause its business, industry, strategy, financing activities or actual results to differ materially. IHS Towers undertakes no obligation to update or revise any of the forward-looking statements contained herein, whether as a result of new information, future events or otherwise. For further information, please contact: investorrelations@ihstowers.comAttachment * 20201808Wendel_EN_IHS
