Saint-Gobain postpones Verallia’s IPO

Saint-Gobain has decided to postpone the initial public offering of Verallia, in light of the very adverse market conditions.

The pricing was expected to occur on June 21, 2011, two weeks after the opening of the Offer, which started on June 7th.

The offering received strong support from institutional investors in Europe (especially in France) and North America, as well as a significant demand from retail investors.

However, given the underlying level of market uncertainty and volatility, Saint-Gobain considers that the conditions are not met to ensure a  clear success for the IPO of Verallia.

The outlook for Verallia is favorable and the company will continue to pursue its growth and operational excellence strategy, based on a solid financial structure and a strong cash flow generation.