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VELAN STRENGTHENS FINANCIAL POSITION WITH COMPLETION OF ASBESTOS LIABILITY DIVESTITURE - PressReach

Summary by pressreach.com
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 Tran…
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VELAN STRENGTHENS FINANCIAL POSITION WITH COMPLETION OF ASBESTOS LIABILITY DIVESTITURE - PressReach

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 Tran…

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Canadian ManufacturingCanadian Manufacturing

Velan Inc. Announces Completion Of Permanent Divestiture From Asbestos-related Liabilities - Canadian Manufacturing

MONTREAL — Velan Inc., a manufacturer of industrial valves, announced 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. Originally announced on January 14, 2025, the Asbestos Divestiture Transaction reportedly marks a significant step in Velan’s strategic financial realignment. The Company funded the Asbestos …

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Canadian Manufacturing broke the news in on Friday, April 4, 2025.
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