Wendel (group)

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Wendel S.A.
Type Société Anonyme
Traded as EuronextMF
Industry Investments
Founded 1704
Founder(s) Jean-Martin Wendel
Headquarters Paris, France
Key people Frédéric Lemoine (CEO), François de Wendel (Chairman of the supervisory board)
Products Industrial holdings
Profit €333.7 million [1]
Employees 66 (end 2012)
Website www.wendelgroup.com

Wendel is a French investment company. The company is managed by François de Wendel, Chairman of the Supervisory board[2] and Frédéric Lemoine, Chairman of the Executive board.[3]

Shareholders[edit]

Its main shareholders are:[4]

  • Wendel Participations: 35.1%, family holding company gathering over a thousand members.
  • Individual shareholders: 23.8%
  • Institutional investors: 32.3%

Subsidiaries and participations[edit]

Wendel is the reference shareholder of the following main companies:

  • Bureau Veritas, with 50.9% of the stock
  • Saint-Gobain: 12%
  • Materis: 75.5%
  • Stahl: 70%
  • IHS: 35%
  • Parcours: 95.8%
  • Exceet: 28.4%
  • Mecatherm: 98.1%
  • Saham: 13.33%
  • Nippon Oil Pump: 97.7%

Key figures[edit]

  • Net Asset Value (March, 27, 2014) : €144.0 per share [2]
  • Consolidated Sales (2013) : €6.432 million [3]

Governance[edit]

Supervisory board[edit]

Executive board[edit]

  • Frédéric Lemoine, Chairman
  • Bernard Gautier

News[edit]

In April 2014, Wendel confirmed that the acquisition of Clariant’s Leather Services division by Stahl has been completed. In exchange for the sale of its assets to Stahl, Clariant received 23% of the shares of Stahl and a cash payment of €74 million. Wendel remains the principal shareholder of Stahl, with c.70% of the group’s capital[6]

In April 2014, Wendel increases its total investment in IHS to $475 million [7]

In December 2013, Wendel realized its first investment in Japan, through Oranje Nassau Développement, with the acquisition of Nippon Oil Pump Co., Ltd. (NOP). Wendel has invested ¥3,2bn (c.€24M), subject to price adjustments, and holds 98% of the company, alongside management[8]

In November 2013, Wendel pursues its strategy of investment in Africa, becoming a shareholder of the pan-African group Saham, based in Morocco and majority-held by its founder and CEO, Moulay Hafid Elalamy. Wendel intends to support Saham in its future, long-term growth and development[9]

In July 2013, Wendel increases it investment in IHS Holding to $276 million.[10]

In June 2013, after 11 years as reference shareholder, Wendel completes the successful sale of its remaining stake in Legrand.[11]

In April 2013, the rating agency Standard & Poor's raised its long-term rating on Wendel from "BB" to "BB+", with stable outlook.[12]

In October 2012, Wendel announces its first investment in Africa, continent with the economic growth among the most dynamic in the world. Wendel will become the major shareholder of IHS, main Pan-African phone tower group.[13]

In April 2012, after obtaining the necessary authorizations, Wendel sold Deutsch to the industrial group TE Connectivity.[14]

In March 2012, Frédéric Mitterrand, Minister of Culture, awarded Wendel with the distinction of Great Patron of Culture. This distinction acknowledges its commitment to arts and in particular to the Centre Pompidou-Metz.

In July 2011, Wendel announced the acquisition of Mecatherm, the world leader in industrial bakery equipment.[15]

In July 2011, the rating agency Standard & Poor’s revised from « stable » to « positive » Wendel’s « BB- » credit rating after the company improved its financial profile, including its « loan to value » ratio.[16]

In June 2011, Wendel became reference shareholder of the Swiss technology company Exceet Group AG, via the investment structure Helikos.[17]

In May 2011, Wendel and Saint-Gobain established the principles and objectives of their long-term cooperation.[18]

In March 2011, Wendel bought the car rental specialist Parcours for €107m.[19]

Shareholder of Stallergenes since 1993, Wendel sold its shares (46%) of the world leader in immunotherapy treatment for allergic respiratory diseases, to Ares Life Sciences in November 2010.[20]

In May 2010, Wendel became the founding sponsor of the Centre Pompidou-Metz.[21]

In June 2008, Sophie Boegner, Ernest-Antoine Seillière's cousin, denounced the conditions through which 15 Wendel managers invested in 4.7% of the company's stock in May 2007. In August 2011, the public prosecutor dismissed the case. In a sequence of dismissal, Judge Renaud Van Ruymbeke pronounced which if a leaders of Wendel completed “significant gains” in reorder of a collateral Wendel, “this actuality alone can not concede a characterization of injustice of association assets”.[22] The public prosecutor had previously closed the "misappropriation of funds and concealment" case, deeming that no penal qualification resulted from the case, given the contradictory elements transmitted by the Autorité des marchés financiers and given the results of an internal investigation.

In May 2008, Wendel sold Editis to the Spanish group Planeta.

In October 2007, the Initial Public Offering of Bureau Veritas brought 1.2 billion euros. Wendel has stayed the majority shareholder with 63%.

In September 2007, Wendel sold the totality of its 2.4% shares in Neuf Cegetel for €148M.

Wendel also became during the Autumn 2007 the first shareholder of Saint-Gobain,[23] a leader in construction materials, by exceeding 15%.

References[edit]

  1. ^ [1] globalnewswire.com, March 27th 2014
  2. ^ - Le Point.fr: François de Wendel appointed Chairman of the Supervisory Board, March 28th, 2013
  3. ^ BusinessWeek - Executive Profile: Frédéric Lemoine, CEO of Wendel since April 7, 2009
  4. ^ Ownership structure
  5. ^ http://www.wendel-investissement.com/en/members_32.html
  6. ^ http://inpublic.globenewswire.com/2014/04/30/WENDEL+Stahl+completed+the+acquisition+of+Clariant+Leather+Services+HUG1781930.html
  7. ^ http://www.euroinvestor.fr/actualites/2014/04/16/wendel-increases-its-total-investment-in-ihs-to-475-million/12780876
  8. ^ Reuters. 8 November 2013 http://www.reuters.com/article/2013/11/08/idUSnHUGdn6S+71+ONE20131108 |url= missing title (help). 
  9. ^ Reuters. 28 November 2013 http://www.reuters.com/article/2013/11/28/idUSnHUGdpTP+73+ONE20131128 |url= missing title (help). 
  10. ^ http://bourse.lesechos.fr/infos-conseils-boursiers/infos-conseils-valeurs/infos/wendel-detient-35-d-ihs-apres-l-augmentation-de-capital-899474.php
  11. ^ "Wendel cède le solde de sa participation dans Legrand". Reuters. 10 June 2013. 
  12. ^ Reuters. 14 May 2013 http://uk.reuters.com/article/2013/05/14/idUSnHUGd5lS+71+ONE20130514 |url= missing title (help). 
  13. ^ https://www.reuters.com/article/2012/10/31/nigeria-ihs-idUSL5E8LVFIX20121031
  14. ^ http://www.4-traders.com/WENDEL-4671/news/WENDEL-sells-Deutsch-to-TE-Connectivity-14257219/
  15. ^ "Wendel SA Acquires Mecatherm Group via Oranje-Nassau Developpement". Reuters. 
  16. ^ http://www.standardandpoors.com/ratings/articles/en/us/?articleType=HTML&assetID=1245319587029
  17. ^ http://finance.yahoo.com/news/WENDEL-SUPPORTS-HELIKOS-IN-thomsonreuters-3766350250.html?x=0&.v=1
  18. ^ "Wendel and Saint-Gobain establish the principles and objectives of their long-term cooperation". Reuters. 26 May 2011. 
  19. ^ "Wendel Swings To Pft In FY10, Buys Parcours Stake For EUR107M", The Wall Street Journal - March 23, 2011
  20. ^ "Wendel to Sell Stallergenes Stake to Bertarelli's Ares for $489.1 Million", Bloomberg - October 29, 2010
  21. ^ http://www.wendelgroup.com/en/mecenat_85.html
  22. ^ http://ya20.com/2011/08/05/wendel-matter-not-necessary-in-the-investigation-of-the-reorganization-of-the-group-2/
  23. ^ "Wendel takes 6% stake in Saint-Gobain", The Financial Times - September 26, 2007

External links[edit]