Brief: Vidrala To Sell Its Italian Unit To Verallia For 230 Mln Euros

Vidrala SA

28/02/2024 07:37

Feb 28 (Reuters) - Vidrala SA  VID.MC :
    * AGREEMENT TO SELL ITS ITALIAN SUBSIDIARY
    * ENTERED INTO AN AGREEMENT WITH VERALLIA TO SELL THE ITALIAN SUBSIDIARY VIDRALA ITALIA FOR
A
CONSIDERATION OF EUR 230 MILLION, SUBJECT TO THE CUSTOMARY CLOSING ADJUSTMENTS
    * THE PROFIT BEFORE TAXES ARISING FROM THIS TRANSACTION AMOUNTS TO ABOUT EUR 100 MILLION
    * CLOSING OF TRANSACTION IS ESTIMATED TO TAKE PLACE BETWEEN SECOND AND THIRD QUARTER OF 2024
    * DIVESTMENT WILL HELP VIDRALA RE-FOCUS ON THE CORE BUSINESSES AND CRYSTALLISE THE
OPPORTUNITY TO
REALISE THE VALUE THAT HAS BEEN CREATED
    * FUNDS ARE EXPECTED TO BE USED PARTIALLY TO REDUCE DEBT AND REINFORCE FINANCIAL POSITION
AND
PARTIALLY TO RETURN CASH TO SHAREHOLDERS IN FORM OF EXTRAORDINARY DIVIDEND

Source text for Eikon:  ID:nCNM65Zp9C 
Further company coverage:  VID.MC 

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