Vidrala (ES:VID) recently announced a significant update. The company has completed the sale of its Italian subsidiary to Verallia group for €230 million. This transaction has resulted in a pre-tax gain of approximately €50 million for Vidrala. By divesting this subsidiary, Vidrala is able to focus on key strategic regions. Additionally, shareholders will benefit from an extraordinary dividend of €4.00 per share, which is scheduled to be paid on July 12, 2024.
This sale has also strengthened Vidrala’s financial position by reducing its debt to an estimated €325 million, which is around 0.7 times its EBITDA. For those interested in further information on ES:VID stock, it is recommended to visit TipRanks’ Stock Analysis page.