MONTRÉAL, March 20, 2025 /CNW/ - Velan Inc. (the "Company" or "Velan") (TSX: VLN) today announced that holders ("Shareholders") of subordinate voting shares (the "SVS") and of multiple voting shares (the "MVS") of Velan have approved a special resolution (the "Special Resolution") approving the proposed sale by the Company's U.K. direct wholly-owned subsidiary, Velan Valves Limited, of its direct French wholly-owned subsidiaries (being the Company's indirect wholly-owned subsidiaries), Segault and Velan S.A.S. ("Velan France"), to Framatome SAS, for a purchase price of US$177.6 million (€170 million), with the benefit of the transfer by Velan France of an intercompany loan receivable from the Company of US$23.5 million (€22.5 million), for total consideration to the Company of US$201.1 million (€192.5 million) (the "France Transaction").
Read more at newswire.caVELAN SHAREHOLDERS APPROVE THE SALE OF VELAN'S FRENCH BUSINESS
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