BNP Paribas and UBS, which advised Saint-Gobain on its GBP 3.9 billion (EUR 5.7 billion) takeover of UK plasterboard manufacturer BPB, are reportedly out of the banking team for the French building ma…
BNP Paribas and UBS, which advised Saint-Gobain on its GBP 3.9 billion (EUR 5.7 billion) takeover of UK plasterboard manufacturer BPB, are reportedly out of the banking team for the French building materials major“s latest deal. According to unnamed sources close to the matter, Saint Gobain has appointed Lazard to sell at least one of its packaging businesses. Saint Gobain is considering selling perfume bottle manufacturer Desjonqueres and Calmar, which makes pump sprays. Industry sources said a sale of the two businesses could bring in over EUR 1 billion (USD 1.18 billion). Saint Gobain and Lazard declined to comment. Lazard has not advised Saint Gobain on a mergers and acquisitions deal for over six years, according to data provider Thomson Financial. It was sole adviser to Saint Gobain on its USD 616 million (EUR 521 million) acquisition of Furon, a US manufacturing business, in 1999. BNP Paribas and UBS, which are also leading a financing syndicate backing the BPB acquisition, are Saint Gobain“s regular M&A advisers. Each has advised Saint Gobain on four M&A deals, according to Thomson Financial. Saint Gobain“s other previous advisers include Rothschild and JP Morgan. UK packaging business Rexam refused to comment 28 November 2005 on press reports that it was preparing a EUR 3 billion bid for Saint Gobain“s glass-packaging business.