Constellium To Sell Three German Extrusion Plants To Vaessen Aluminium For A Total Cash Consideration Of €48.8M
Portfolio Pulse from Happy Mohamed
Constellium SE (NYSE:CSTM) has signed a binding agreement to sell three of its soft alloy extrusion facilities in Germany to Vaessen Aluminium for a total cash consideration of €48.8 million. The transaction, which involves nearly 450 employees, is expected to close in the second half of 2023, subject to regulatory approval.
July 18, 2023 | 12:05 pm
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NEUTRAL IMPACT
Constellium's sale of three facilities to Vaessen Aluminium could potentially free up capital and streamline operations, but may also impact revenue in the short term.
The sale of these facilities could free up capital for Constellium, which could be used for other strategic investments or debt reduction. However, it may also lead to a decrease in revenue in the short term, as these facilities likely contributed to Constellium's earnings. The net impact on the stock price is uncertain, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100