on VALLOUREC (EPA:VK)
Vallourec sells Logistics Group for 20 million euros
On November 25, 2024, Vallourec announced the sale of almost 99% of its Indonesian subsidiaries, PT CPPI and PT SCN, to CKB Logistics, a group owned by ABM Investama Tbk. The transaction amount is approximately €20 million, including an earn-out of €2.9 million. Logistics Group, located in Batam, offers logistics services in several sectors, including energy and construction.
This sale is part of Vallourec's strategy to refocus on its core business and optimize its capital. Despite this sale, Vallourec will continue to benefit from Logistics Group's services under similar conditions. The transaction is expected to close in the fourth quarter of 2024, subject to obtaining the necessary authorizations.
R. P.
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