saint-gobain

French family business Wendel sells asset to reduce debts

December 1, 2011

French investment company Wendel, controlled by the founding family, is to sell its stake in electrical connections business Deutsch, as it attempts to reduce its €5 billion debt faster.

The sale will see the family business divest its 89% holding in US-based Deutsch, which it first acquired in June 2006, for €1.5 billion, Wendel said in a statement. The net proceeds will amount to €954 million.

Wendel announces growth despite legal issues

March 24, 2011

Family-controlled investment company Wendel announced on 24 March that its revenues for 2010 saw an increase of 17.5%, despite a run of bad luck with French regulators earlier this year.

Wendel moves to shore up its reputation

January 18, 2011

Family-controlled investment company Wendel said that it would appeal a €1.5 million fine imposed by the French market regulator AMF, as it attempts to bolster its reputation.

In a statement on 17 January, the Paris-based company said: "Wendel will appeal this ruling at the Paris Court of Appeal, which will hear in fact and law the evidence and key arguments presented by the group in order to demonstrate that Wendel has complied with the law and the regulations in force at the time."