Compagnie de Saint-Gobain has postponed the intended IPO of its glass bottling business Verallia, The Wall Street Journal reports, citing Le Figaro. The French building material group was seeking to raise around €958 million from the issue.
The proposed offering was delayed due to the Greek debt crisis that is alarming investors. The IPO was part of Saint-Gobain’s plan to focus its operations on building materials.
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