Jan 8 (Reuters) -
* ENTERS INTO EXCLUSIVE DISCUSSIONS FOR SALE OF ITS SILICONE CARBIDE DIVISION
* EXCLUSIVE AGREEMENT WITH PRIVATE EQUITY FIRM OPENGATE CAPITAL AFTER HAVING RECEIVED A PURCHASE OFFER TO ACQUIRE THE GROUP’S SILICON CARBIDE DIVISION.
* FIRM AND BINDING OFFER IS NOT SUBJECT TO ANY FINANCING CONDITIONS
* Saint-Gobain is a worldwide leader in silicon carbide grains and powders with annual sales of around €120 million
* Transaction is part of Saint-Gobain’s announced objective to divest businesses representing sales of at least €3 billion by the end of 2019