Wendel sells Bureau Veritas shares but remains in control

By Joseph James Whitworth contact

- Last updated on GMT

Wendel will remain Bureau Veritas’ majority shareholder
Wendel will remain Bureau Veritas’ majority shareholder

Related tags: Stock market

Wendel has sold 48 million shares in Bureau Veritas, amounting to 10.9% of the share capital for close to €1bn.

It has retained a stake of more than 40% of share capital and 56% of its voting rights.

Wendel has agreed not to proceed with a similar transaction in the market for the next 12 months.

It said the TIC (Testing, Inspection and Certification) market benefits from strong fundamental and long-term growth trends such as new regulations, increasing demand for security and standards, globalization of trade, ageing industrial assets and corporate brand and image protection

“Wendel will remain Bureau Veritas’ majority shareholder, invested for the long term, and with no change to the governance structure.  

“Wendel reaffirms its strong support to the strategy of profitable growth implemented by Didier Michaud-Daniel based on organic and external growth in order to strengthen its presence in strategic markets.”

Bureau Veritas offers certification, inspection and auditing services to meet the growing requirements and face the challenges of higher standards in the food industry.

Related topics: Food Safety & Quality

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