French investment company Wendel said its maximum exposure to margin calls related to the recent decline in Saint-Gobain“s share price is EUR 3 billion and will not involve specific additional costs …
French investment company Wendel said its maximum exposure to margin calls related to the recent decline in Saint-Gobain“s share price is EUR 3 billion and will not involve specific additional costs for Wendel. Wendel recently increased its stake in the building materials maker to 17.87%. It described its holding as a long-term investment, although it defined long-term as 3-5 years in noting that financing arrangements for the investment “are long-term with expirations of 3 to 5 years”.