Sims (AU:SGM) has released an update.
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Sims Limited has announced the sale of its UK Metal business for an impressive £195 million to Unimetals Group Limited, concluding a strategic review begun in 2023. Additionally, Sims is finalizing the sale of its remaining stakes in Circular Services for US$32 million, despite a recognized loss, to achieve an overall gain from prior divestments. These moves aim to refocus Sims on higher-potential markets and strengthen its balance sheet, with anticipated after-tax cash proceeds of A$435 million enhancing shareholder value.
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