WENDEL: Tsebo’s shareholders transfer their shares to the investment arms of its senior lenders in a consensual transaction

Tsebo’s shareholders transfer their shares to the investment arms of its senior lenders in a consensual transactionWendel invested in Tsebo in 2017 and contributed further capital to the company in 2019 to strengthen its balance sheet.The transaction will also result in the settlement of a guarantee granted in 2017 in connection with the investment by B-BBEE partners in Tsebo. The transfer of the controlling shareholding to a South African consortium of financial investors and management ensures that Tsebo’s balance sheet is strengthened, it’s strong B-BBEE credentials are preserved and the business is well-positioned to grow into the future.Wendel’s financial statements and Net Asset Value as of June 30, 2020 already reflect these transactions.The transactions are subject to finalization of the legal documentation and to South African Reserve Bank approval and should be closed in the coming months.About WendelWendel is one of Europe’s leading listed investment firms. The Group invests in Europe, North America and Africa in companies which are leaders in their field, such as Bureau Veritas, Cromology, Stahl, IHS, Constantia Flexibles and Crisis Prevention Institute. Wendel plays an active role as a controlling or significant shareholder in these companies. We implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions.Wendel is listed on Eurolist by Euronext Paris.Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 since January 25, 2019Moody’s ratings: Long-term: Baa2, stable outlook – Short-term: P-2 since September 5, 2018Wendel 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: wendelgroup.comFollow us on Twitter @WendelGroupAgenda11.04.20202020 Investor Day / Presentation of NAV as of September 30, 2020, and Q3 2020 trading update (publication post-market release on 11/03/2020).03.18.20212020 Full Year Results – Publication of NAV as of December 31, 2020 (pre-market release).04.28.2021Q1 2021 Trading update – Publication of NAV as of March 31, 2021 (pre-market release).06.03.2021Annual General Meeting07.29.2021H1 2021 results – Publication of NAV as of June 30, 2021, and condensed Half-Year consolidated financial statements (pre-market release).10.28.2021Q3 2021 Trading update – Publication of NAV as of September 30, 2021 (pre-market release).12.02.20212021 Investor Day – Meeting to take place in the morningAttachment20201019WendelTsebo