Velan Inc. SV ( (TSE:VLN) ) just unveiled an announcement.
Velan Inc. announced that its shareholders have approved the sale of its French subsidiaries, Segault and Velan S.A.S., to Framatome SAS for a total consideration of US$201.1 million. This transaction is part of Velan’s strategy to use the proceeds to divest its asbestos-related liabilities. The approval was unanimous among voting shareholders, and the transaction is expected to close in the coming weeks, pending customary closing conditions.
More about Velan Inc. SV
Founded in Montreal in 1950, Velan Inc. is one of the world’s leading manufacturers of industrial valves, with sales of US$346.8 million in its last reported fiscal year. The company employs approximately 1,600 people and has manufacturing plants in 9 countries. Velan Inc. is a public company with its shares listed on the Toronto Stock Exchange under the symbol VLN.
YTD Price Performance: 50.74%
Average Trading Volume: 35,843
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$321.6M
For detailed information about VLN stock, go to TipRanks’ Stock Analysis page.
Trending Articles:
Questions or Comments about the article? Write to editor@tipranks.com