28 May 1998: French conglomerate Generale des Eaux and glassmaker Saint-Gobain confirmed plans recently to unwind the bulk of their cross-shareholdings in a deal valuing one Generale share at 1.075 Sa…
28 May 1998: French conglomerate Generale des Eaux and glassmaker Saint-Gobain confirmed plans recently to unwind the bulk of their cross-shareholdings in a deal valuing one Generale share at 1.075 Saint-Gobain shares. Subject to proposed legal reforms, Generale des Eaux will buy back 4.7 million shares from Saint-Gobain, which in turn will buy back three million shares and receive around FFr 1.9 billion (US$ 319 million) cash from Generale, the two firms said in separate statements.