30 July 1998: French glassmaker Saint-Gobain said it would book a gross capital gain of FFr 1.69 billion (US$ 283 million) in the second half of 1998 and FFr 3.65 billion in the 1999 first half, as pa…
30 July 1998: French glassmaker Saint-Gobain said it would book a gross capital gain of FFr 1.69 billion (US$ 283 million) in the second half of 1998 and FFr 3.65 billion in the 1999 first half, as part of its announced plan to unwind cross shareholdings. The FFr 1.69 billion capital gain will come from the sale of 4.2 million Suez Lyonnaise des Eaux shares for FFr 4.27 billion and 3.65 million Vivendi shares for FFr 5.3 billion. The unwinding of cross holdings was announced in May, but the timing of the sales was not given at the time.