Davis Polk & Wardwell is advising Compagnie de Saint-Gobain on its acquisition of Owens Corning’s Siding Solutions business. Based in Ohio, Owens Corning is a world leader in building materials systems and composite solutions. Based in France, Saint-Gobain is a leading producer of flat glass, glass packaging, insulation, building materials, fiber glass reinforcements, abrasives, high-performance plastics, industrial ceramics and pipe.
Under the terms of the transaction, Saint-Gobain will acquire Owens Corning’s Siding Solutions business, including the Norandex/Reynolds distribution business, for $371 million in cash. The transaction is expected to close by the end of the third quarter of 2007.
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