Societe Generale negotiates buying a stake in Adeplast

Investment fund Societe Generale Asset Management (SGAM), a division of the French banking group Groupe Societe Generale (SocGen) is negotiating the takeover of a minority stake of around 20-30% in Multistar Prod, the producer of Adeplast construction materials, a transaction estimated at around 8-10 million euros, according to sources on the market. Multistar Prod conducted a business worth 26 million euros last year, with a net margin of 18%, and this year predicts its business will be worth around 41 million euros. The company specialises in producing mortar and adhesives for ceramic tiling, a sector with a growth rate of approximately 30-40% a year and also very attractive for investment funds which are testing the water on the constructions market. “We are in discussions with an investment fund, to sell a minority stake, but we have not signed anything yet,” Marcel Barbut, sole shareholder and general manager of Multistar Prod, told ZF.