Saint-Gobain (PAR: SGO) said on Wednesday that its Australian subsidiary CSR has agreed to sell its Badgerys Creek property, adjacent to the new Western Sydney Airport, for A$575 million (around €320 million).
The transaction is expected to be completed on 19 December 2025.
The French construction materials group said the site was part of CSR’s property portfolio valued at a minimum of A$1.3 billion at the time of its acquisition in July 2024. With this deal, the company will have monetised A$900 million of CSR property assets.
Saint-Gobain, which is celebrating its 360th anniversary this year, described the transaction as consistent with its strategy of optimising non-core assets while maintaining a focus on sustainable construction solutions.
The group reported €46.6 billion in sales in 2024 and employs more than 161,000 people across 80 countries.
Shares in Saint-Gobain slipped 1.2% in Wednesday trading. Despite the decline, the stock remains up more than 15% year-to-date and has gained over 29% in the past 12 months.
According to TradingView data, 13 analysts currently rate the stock a Buy, six a Hold and one a Sell. Among the 17 offering price targets, the consensus stands at €108, representing potential upside of about 8.7% from current levels.
The group reiterated its commitment to achieving net zero carbon emissions by 2050, underscoring its position as a leader in light and sustainable construction.
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