40 North will acquire a participation of c. 29.1% of the shares in Braas Monier Building Group S.A.
Braas Monier Building Group S.A. / Key word(s): Miscellaneous
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40 North will acquire a participation of c. 29.1% of the shares in Braas
Monier Building Group S.A.
Luxembourg, 14 May 2016. Braas Monier Building Group S.A. has been informed
by Monier Holdings S.C.A., its major shareholder, that Monier Holdings
S.C.A. has agreed with 40 North Management LLC ("40 North"), a privately-
held investment firm and affiliate of Standard Industries Inc., to sell a
participation of c. 29.1% of the shares in Braas Monier Building Group S.A.
to an investment vehicle of 40 North. The transaction remains subject to
merger control clearance in Austria and is targeted to close in the summer
In the context of the acquisition, Messrs. Fabrice Nottin and Winston
Ginsberg will step down as members of the Board of Directors of Braas
Monier Building Group S.A. and the Board of Directors has agreed that Mr.
David J. Millstone, Mr. David S. Winter and Ms. Kathleen G. Reiland will
become members of the Board of Directors by way of cooptation. Messrs.
Millstone and Winter are Co-Chief Executive Officers and Co-Chief
Investment Officers of 40 North as well as Co-Chief Executive Officers and
Co-Executive Chairmen of Standard Industries Inc. Ms. Reiland is Head of
Mergers and Acquisitions at Standard Industries Inc.
Standard Industries Inc. is a privately-held, global, diversified holding
company with interests in inter alia building materials. Its businesses
include GAF, the largest roofing manufacturer in North America, and Icopal,
the European leader in high-end commercial roofing products and
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Company: Braas Monier Building Group S.A.
4, rue Lou Hemmer
Grand Duchy of Luxembourg
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart,
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