(Boursier.com) — Vallourec , a world leader in premium tubular solutions, announces that it has signed a contract for the sale of its Mülheim site to CTP, the largest listed European industrial real estate developer. On December 14, the Municipal Council of Mülheim waived its right of pre-emption in the transaction and on December 22, all prerequisites for the completion of the sale were fulfilled.
This transaction involves the sale of a property of approximately 330,000 square meters for a sale price equivalent to 39 million euros. Of this sale price, approximately 37 million euros should be received within two weeks.
Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer, declared: “This sale confirms our determination to achieve the objectives of the New Vallourec plan. For the end of 2023, we anticipate a net debt of less than €741 million. “euros, excluding proceeds from the sale of assets, which will represent 5 consecutive quarters of deleveraging. This transaction supports our short-term deleveraging ambitions and our objective of reaching net debt to zero by the end of 2025 at the latest. , this sale demonstrates our ability to conclude transactions despite the environment, in collaboration with different stakeholders.”
©2023 Boursier.com