Saint-Gobain has completed the sale of its construction glass activity in South Korea (Hankuk Glass Industries) to Glenwood Private Equity.

The business generated revenues of around €200 million and operating income of €10 million in 2018.

The divestment was based on an enterprise value of around €240 million.

The transaction was part of Saint-Gobain’s portfolio optimisation strategy within the framework of its new organisation.

Divestments completed or signed by the Group to date in order to enhance its growth and profitability profile represent sales of around €3.3 billion.

Saint-Gobain is continuing its divestment program even though the initial target of over €3 billion in sales divested by the end of the year has already been met.