Wendel

Wendel finalized the sale of its stake in Stahl, excluding Muno, to Henkel for an enterprise value of €2.1 billion after receiving all required regulatory approvals. The transaction generated total net proceeds of approximately €1.14 billion for Wendel after debt and transaction costs, a multiple of 6.3 times its total investment since 2006, which included €427m of past proceeds, and an annualized IRR of over 15% over 20 years. That compares with a value of €960 million for Stahl in Wendel's net asset value published before the transaction announcement, as of September 30, 2025, a premium of about 20%. Wendel said the sale marks a key milestone in the roadmap it presented in early December 2025 and supports its long-term value creation and portfolio rotation objectives. In 2026 alone, Wendel announced significant asset disposals totaling €1.6 billion, completed the acquisition of Committed Advisors, and will return more than €500 million to shareholders, including a July share buyback representing 9% of its share capital.

Wendel SE reported a 46% increase in fee-related earnings to EUR87.1 million for the first half of 2026, alongside EUR450 million returned to shareholders through dividends and buybacks. Fee-paying assets under management grew 30% year-over-year to $37.8 billion, while the pro forma fee-related earnings margin exceeded 39%. The company maintained a low loan-to-value ratio of 7.8% and an average bond coupon of 2.8%, though net asset value was pressured by lower market multiples for unlisted assets. Monroe Capital's evergreen vehicle saw net redemptions of $90 million, and IK Partners had no fundraising activity in the period, with its next cycle not expected until 2027.

Wendel a déclaré avoir racheté 97 226 actions propres entre le 22 et le 26 juin 2026, dans le cadre de son programme de rachat autorisé par l'Assemblée Générale du 21 mai 2026. Le prix pondéré moyen d'acquisition sur la période s'établit à 81,9840 euros par action. Les transactions ont été réalisées sur les marchés XPAR, CEUX, AQEU et TQEX, avec des volumes quotidiens variant de 18 242 à 19 695 actions.

Wendel declared share buyback operations executed from June 15 to June 19, 2026, under the program authorized by the General Meeting of May 21, 2026. Over the five-day period, the company repurchased a total of 86,792 shares at a volume-weighted average price of €84.8544. Daily transactions were executed across multiple trading venues including XPAR, CEUX, TQEX, and AQEU, with daily volumes ranging from 6,250 to 9,095 shares and average daily prices between €83.86 and €85.98.

Wendel has appointed Cyril Marie to its Executive Board as Deputy CEO in charge of Asset Management, effective July 1, 2026. He joins Executive Board Chairman Laurent Mignon and CEO David Darmon on the board. The decision was made by the Supervisory Board on June 16, 2026, and reflects the growing importance of Wendel's third-party asset management platform, Wendel Investment Managers, which had 50 billion euros in assets under management as of March 31, 2026. Cyril Marie, 52, joined Wendel in July 2023 and has been instrumental in developing the platform, which now includes IK Partners, Monroe Capital, and Committed Advisors. He previously held senior roles at Natixis Investment Managers, including CFO and Head of Strategy and Corporate Development.