Linklaters advises Saint-Gobain on the €1.5 billion sale of its Dahl specialist distribution business in Sweden, Norway and Denmark

Linklaters has advised Saint-Gobain, a global leader in light and sustainable construction, on the signing of a binding agreement for the sale, at an enterprise value of €1.5 billion, of its specialist distribution business in Sweden, Norway and Denmark to Kesko. These activities are mainly operated under the Dahl brand.

The transaction is expected to be finalised by the beginning of 2027, subject to obtaining the necessary regulatory approvals.

This transaction forms part of a series of three transactions on which Linklaters has advised Saint-Gobain, as part of Saint-Gobain’s implementation of its strategy to optimise its business portfolio, in line with its “Lead & Grow” plan. These transactions also include the sale, signed in May 2026, of its tile distribution business in the Nordics, as well as the sale, signed in April 2026, of its ventilation systems distribution business in the same region.

Linklaters’ cross-border and cross-practice team was led by aartners Bruno Derieux (Paris) and Elisabet Lundgren (Stockholm), together with Counsel Véra Maramzine (Paris). On the corporate aspects, the team also included, in  managing associate Erica Wesström, associates Emma Josefsson, Adam Wahlén Winqvist and Cajsa Klefenberg (all Stockholm), Louise Allard and Mathilde Saltiel (both Paris). 

On the antitrust and foreign investment aspects, the team included partners Thomas Elkins and Matthieu Blayney, associate Antoine Réco and junior associate Olivia Martins De Melo ( all Paris).

The Paris tech, cybersecurity and data team included partner Sonia Cissé, senior associate Marion Barbezieux and associate Marie-Charlotte Schremser. On the intellectual property aspects, the team included counsel Jean-François Merdrignac and associates Marion Delvallet and Manon Surel (all Paris).

For more information, please email linklatersstockholm@linklaters.com 

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