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Peugeot Invest communication

Peugeot Invest successfully sold its stake in Groupe SEB

February 27, 2024

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Peugeot Invest announces the successful disposal of 2,223,674 Groupe SEB shares, representing c. 4.02% of the company's share capital at 31 December 2023. The transaction consisted in an institutional private placement by way of an accelerated book-building process, at a price of €106 per share for a total amount of c. €236 million.

Following this transaction, Peugeot Invest no longer holds any stake in Groupe SEB and will no longer be represented in the company's governance.

Since Peugeot Invest's investment in 2004, Groupe SEB's sales have more than tripled, driven by market growth, premiumisation, the development of the Chinese market leader Supor, and the penetration of a promising new Professional market with the acquisition of WMF. The group also acted as the consolidator of its industry, while implementing an ambitious CSR approach. Over the period, the value of Peugeot Invest's investment was multiplied by 4.3x, representing a 10% IRR over twenty years.

Goldman Sachs Bank Europe SE and Natixis acted as Joint Bookrunners on the transaction. The settlement and delivery of the shares will take place on 29 February 2024.

Bertrand Finet, CEO of Peugeot Invest, commented: "We are proud to have contributed to Groupe SEB's successful development over the past 20 years, and to have supported its high-quality management team. This investment fully illustrates Peugeot Invest's strategy of creating significant value by supporting leading family groups in growth markets over the long term. This disposal is part of Peugeot Invest's asset rotation strategy.”

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