MONTREAL, April 3, 2025 /CNW/ - Velan Inc. (TSX: VLN) ("Velan" or the "Company"), a world-leading manufacturer of industrial valves, announced today the successful completion of the permanent divestiture of its asbestos-related liabilities to an affiliate of Global Risk Capital at a cost to the Company of approximately US$143 million (the "Asbestos Divestiture Transaction"). Originally announced on January 14, 2025, the Asbestos Divestiture Transaction marks a significant step in Velan's strategic financial realignment.
Read more at newswire.caVELAN STRENGTHENS FINANCIAL POSITION WITH COMPLETION OF ASBESTOS LIABILITY DIVESTITURE
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