Velan Inc. SV ( (TSE:VLN) ) has provided an announcement.
Velan Inc. announced the completion of the sale of its French subsidiaries, Segault SAS and Velan S.A.S., to Framatome SAS for a total consideration of $208.4 million. The proceeds from this transaction will be used to fund the permanent divestiture of Velan’s asbestos-related liabilities, enhancing the company’s financial position and potentially impacting its market strategy.
More about Velan Inc. SV
Velan Inc. is a world-leading manufacturer of industrial valves, focusing on providing high-quality products for various industries. The company is recognized for its expertise in valve manufacturing and has a significant market presence.
YTD Price Performance: 51.25%
Average Trading Volume: 33,833
Technical Sentiment Signal: Sell
Current Market Cap: C$351.8M
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