WENDEL : Van Gansewinkel's shareholders will transfer their shares to its senior lenders following a recapitalization agreement resulting in a reduction of senior debt by 60%

Van Gansewinkel has reached an agreement with its shareholders and lenders on a new and sustainable capital structure. This will create a stable platform for the company's future development, evidenced by a 60% reduction in debt, from approximately €809m to €320m. With this, Van Gansewinkel realizes an important prerequisite for the realization of its business plan and investments for the coming five years.
The restructuring is being achieved through a debt for equity swap resulting in significantly reduced debt and strengthening the company's equity. The company's current shareholders will transfer their shares to the senior lenders at completion.
Wendel held since January 2006 an 8 % minority stake in Van Gansewinkel. Wendel will transfer its shares to the senior lenders at completion of the agreement. From 2006 to 2011, Wendel has invested a total of €63.6m in equity and shareholder loan in Van Gansewinkel, of which €30.6m was returned to Wendel.

This restructuring will not have any impact on Wendel's Net Asset Value nor its 2015 financial statement.

About Wendel                                                                          
                                                                                                       
Wendel is one of Europe's leading listed investment firms. The Group invests in Europe, North America and Africa, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Materis Paints, Stahl, IHS and Constantia Flexibles. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of exceet in Germany, Mecatherm and Parcours in France, Nippon Oil Pump in Japan, Saham Group in Africa and CSP Technologies in the United States.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's ratings: Long-term: BBB-, stable outlook - Short-term: A-3 since July 7, 2014.
Wendel 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.

Press contacts                                                                                                                                           Analyst and investor contacts

Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24                                                                               Olivier Allot: +33 (0)1 42 85 63 73

c.angladepirzadeh@wendelgroup.com:
mailto:c.angladepirzadeh@wendelgroup.com                                                                                                                 o.allot@wendelgroup.com:
mailto:o.allot@wendelgroup.com

Caroline Decaux: +33 (0)1 42 85 91 27                                                                                              Elisa Muntean: +33 (0)1 42 85 63 67
c.decaux@wendelgroup.com:
mailto:c.decaux@wendelgroup.com                                                                                                                        e.muntean@wendelgroup.com