Earnings Release • Jul 29, 2016
Earnings Release
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PRESS RELEASE – J ULY 29 , 2016
Wendel has acquired 40% of the capital of SGI Africa, alongside the CFAO group.
SGI Africa is a fast-growing pan-African property company created by CFAO to support its retail development plan. SGI Africa develops and operates shopping centers primarily through its PlaYce brand. The company opened its first PlaYce shopping center in Côte d'Ivoire at the end of 2015 (PlaYce Marcory, Abidjan) and aims to expand into seven other West and Central African countries: Cameroon, Republic of the Congo, Nigeria, Ghana, Gabon, Senegal, and the Democratic Republic of Congo. Over the next five to seven years, SGI Africa plans to build then operate around 20 shopping centers, each including a Carrefour hypermarket or supermarket, as well as a portfolio of brands under franchise to CFAO. These projects represent an investment of around €500 million, which will be financed by shareholders' equity and bank debt.
SGI Africa's shareholding is now constituted of Wendel (40% of capital), CFAO (40%) and FFC (partnership between CDC International Capital and Qatar Investment Authority, 20%). Thus, Wendel and CFAO co-control the company.
Wendel, through Oranje-Nassau Développement, made an initial investment in SGI Africa of around €25 million and will gradually invest up to €120 million over the next few years.
After IHS and Saham Group, this will be Wendel's third direct investment in Africa and will bring its total investments in African companies to more than €800 million since 2013. The Wendel Africa team operates from Wendel's office in Casablanca and analyzes investment opportunities for the Group in this region.
H1 2016 earnings / Publication of NAV (pre-market release) By conference call
2016 Investor Day / Publication of NAV and trading update (pre-market release) In London
2016 full-year earnings / Publication of NAV (pre-market release) In Paris
9/7/2017
H1 2017 earnings / Publication of NAV (pre-market release)
By conference call
Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and AlliedBarton Security Services. Wendel plays an active role as industry shareholder in these companies. It implements longterm development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of exceet in Germany, Mecatherm in France, Nippon Oil Pump in Japan, Saham Group and SGI Africa in Africa and CSP Technologies in the United States. Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's ratings: Long-term: Long-term: BBB-, stable outlook – Short-term: A-3 since July 7, 2014. Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012.
For more information: www.wendelgroup.com
Follow us on Twitter @WendelGroup and@_FLemoine_
Press contacts Analyst and investor contacts Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24 Olivier Allot: +33 (0)1 42 85 63 73
Caroline Decaux: +33 (0)1 42 85 91 27 Elisa Muntean: +33 (0)1 42 85 63 67 [email protected] [email protected]
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