Sims (AU:SGM) has released an update.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Sims Limited has successfully completed the sale of its UK Metal business to Unimetals Limited, with initial cash proceeds of around £40 million and an estimated £182 million to follow. This strategic move allows Sims to concentrate on markets with higher demand, like the US, Australia, and New Zealand, with plans to use the proceeds to strengthen its balance sheet and continue rewarding its shareholders. The transaction also includes the transfer of lease liabilities and a phased payment plan for the residual asset value.
For further insights into AU:SGM stock, check out TipRanks’ Stock Analysis page.
