(Removes incorrect $650 mln deal value from headline, adds third bullet)
Sept 19 (Reuters) - WENDEL SE MWDP.PA :
* ANNOUNCED ON WEDNESDAY THAT THE COMPANY AND EXISTING SHAREHOLDERS ARE TO SELL ADDITIONAL STAKE IN ALLIED UNIVERSAL
* WENDEL, CAISSE DE DEPOT ET PLACEMENT DU QUEBEC (CDPQ), OTHER EXISTING SHAREHOLDERS REACHED AGREEMENT TO SELL ADDITIONAL STAKE IN ALLIED UNIVERSAL TO NEW INVESTMENT GROUP LED BY WARBURG PINCUS (WP), AND AFFILIATE OF J. SAFRA GROUP
* IN FEBRUARY, THE COMPANY SAID IT WOULD SELL 40 PCT STAKE IN ALLIED UNIVERSAL TO CANADA FUND TRANSACTION VALUES WENDEL'S TOTAL STAKE AT ABOUT $900 MLN
* AT CLOSE, WENDEL WILL RECEIVE OVER 70% OF THE VALUE IN CASH
* TOTAL CASH PROCEEDS OF APPROXIMATELY $650 MILLION
* COMPANY WILL RETAIN ABOUT 8% RESIDUAL EQUITY STAKE IN ALLIED UNIVERSAL
* WENDEL AGREED TO LIMITED GOVERNANCE AND LIQUIDITY RIGHTS COMMENSURATE WITH SMALL SIZE OF ITS REMAINING OWNERSHIP
* WENDEL WILL SELL ADDITIONAL SHARES TO EXTENT WARBURG PINCUS INVESTMENT GROUP RAISES ADDITIONAL CAPITAL
* TRANSACTION IS EXPECTED TO CLOSE BY END OF 2019