Greener Living
Europe’s Largest Brickmaker Makes €600 Million Bet on Roof Renovations
- Austrian brickmaker to buy Terreal units in West Europe, USA
- Purchase of roofmaker may add €100 million to Ebitda in 2023
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Wienerberger AG is betting efforts to boost energy efficiency in buildings will withstand an economic downturn in Europe, reaching a deal to buy French roofmaker Terrreal Holding SAS for €600 million ($634 million).
The transaction may add an annual €100 million to earnings before interest, tax, depreciation and amortization next year and will be funded by Wienerberger’s cash reserves, new debt and own shares valued at €156 million, the Vienna-based company said Tuesday in a statement.