MONTREAL, March 31, 2025 /CNW/ - Velan Inc. (TSX: VLN) ("Velan" or the "Company"), a world-leading manufacturer of industrial valves, announced today the closing of the sale, by the Company's wholly-owned subsidiary, Velan Valves Limited, of 100% of the share capital and voting rights of its French subsidiaries, Segault SAS and Velan S.A.S., to Framatome SAS, a world leader in nuclear energy, for a purchase price of US$184.1 million (€170 million), with the benefit of the transfer of an intercompany loan of US$24.4 million (€22.5 million), for total consideration to the Company of US$208.4 million (€192.5 million) (the "France Transaction"), which was previously announced by the Company on January 14, 2025.
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VELAN ANNOUNCES THE CLOSING OF THE SALE OF ITS FRENCH SUBSIDIARIES TO FRAMATOME
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