Vidrala (ES:VID) has released an update.
Vidrala S.A. has finalized the sale of its Italian subsidiary to Verallia group for €230 million, resulting in a pre-tax gain of around €50 million. The divestment allows Vidrala to concentrate on strategic regions and results in an extraordinary dividend of €4.00 per share to be paid on July 12, 2024. This sale strengthens Vidrala’s financial position by reducing its debt to an estimated €325 million, about 0.7 times its EBITDA.
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