June 12 (Reuters) - French construction materials accompany Saint-Gobain has in agreement to bribe Construction Products of Canada Corp for close to 925 jillion euros ($994 million), it aforesaid on Monday.
Saint-Gobain aforesaid it has entered into a determinate accord to adopt the privately-owned Canadian shaper of roofing zoster and insularism panels.
The transaction is expected to stuffy by the conclusion of the twelvemonth.
Saint-Gobain, which employs or so 170,000 mass approximately the world, is expanding its beachhead in In the north America, having too acquired Canada's Kaycan and GCP Applied Technologies in the United States.
Edifice Products of Canada has around 460 employees and tierce manufacturing plants in Montreal, pagar panel beton Edmonton and Pong-Rouge, where it produces roof shingles and detachment panels among early building products.
Saint-Gobain's CEO, Benoit Bazin, said in a statement that the learning volition allow Saint-Gobain to get a leader for roofing in Canada and will complement its existent trading operations on that point and in the U.S.
The treat leave produce evaluate by class tercet subsequently the transaction closes and will be earnings-per-deal accretive from year one, the mathematical group aforesaid in a statement, adding it estimates synergism opportunities of just about C$50 billion ($37.37 million) by the tierce year afterwards the deal's cloture.
RBC Working capital Markets is acting as Saint-Gobain's fiscal adviser, with Deloitte Collective Finance Iraqi National Congress.
advising Construction Products of Canada.
($1 = 0.9306 euro) ($1 = 1.3379 Canadian River dollars) (Coverage by Olivier Sorgho; Redaction by St. David Goodman, Conor Humphries and Leslie Adler)
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