Repeat & Correct: Saint-Gobain Shares Rise on $1.76 Billion Sale of Majority of Dahl Operations

Saint-Gobain shares rose 5.8% after agreeing to sell its Dahl specialist distribution business in Denmark, Sweden, and Norway to Finnish retailer Kesko for €1.52 billion ($1.76 billion), including debt. The deal, expected to close by early 2027, is part of Saint-Gobain's strategy to improve its portfolio. For Kesko, it marks their largest transaction to date, significantly expanding their building and technical trade arm in the Nordic region.

Saint-Gobain is selling its Dahl specialist distribution business in Denmark, Sweden and Norway to Kesko. "Saint-Gobain to Sell Dahl Business to Kesko for $1.76 Billion," at 0749 GMT, incorrectly suggested it was selling the whole business. The correct version follows:

By Aimee Look

Shares in Saint-Gobain rose after the company struck a deal to sell its specialist distribution business Dahl in three Nordic countries to the Finnish retailer Kesko.

The French group said Monday that it signed a binding agreement to sell its Dahl business in Sweden, Norway and Denmark to Kesko for 1.52 billion euros ($1.76 billion) including debt. The deal is expected to be finalized by the start of 2027.

Saint-Gobain's shares rose 5.8% in early European trading. Shares in Kesko slumped by 9.1%.

Kesko said it will benefit by adding customers specializing in plumbing, sanitary and heating in the region, adding that the acquisition is its largest transaction to date. It would make Kesko's building and technical trade arm its largest, it said.

"We have been seeking significant acquisition opportunities for years, especially in technical trade in the Nordic region, where attractive targets are very rarely available," Jorma Rauhala, the president and CEO of Kesko, said.

Building-materials supplier Saint-Gobain said the divestment is part of its broader strategy to improve its portfolio.

Write to Aimee Look at aimee.look@wsj.com

(END) Dow Jones Newswires

June 15, 2026 06:44 ET (10:44 GMT)