Tredegar Agrees To Sell Terphane To Oben Group For Net Debt-Free Base Consideration Of $116M
Portfolio Pulse from Happy Mohamed
Tredegar Corporation (NYSE:TG) has agreed to sell its flexible packaging films business, Terphane, to Oben Group for $116 million. The transaction is expected to yield after-tax cash proceeds of $85 million for Tredegar. The deal is subject to customary conditions, including clearance by competition authorities in Brazil and Colombia.
September 01, 2023 | 8:34 pm
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Tredegar's sale of its Terphane business to Oben Group for $116 million could potentially boost its cash position by $85 million after taxes and costs. The deal is still subject to regulatory approval.
The sale of Terphane could potentially increase Tredegar's cash position, which could be used for further investments or to improve its financial health. However, the deal is still subject to regulatory approval, which introduces some uncertainty.
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