Primo Water Closes The Sale Of A Significant Portion Of Primo Water's International Businesses In An All-Cash Transaction For $575M
Portfolio Pulse from Benzinga Newsdesk
Primo Water Corporation has completed the sale of a substantial part of its international operations in an all-cash deal valued at $575 million. The sale does not include Primo Water's businesses in the United Kingdom, Portugal, and Israel, which are expected to be sold throughout 2024.
January 02, 2024 | 11:36 am
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Primo Water Corporation has sold a significant portion of its international business for $575 million in cash, which may positively impact its financial position and focus on core markets.
The sale of a large part of Primo Water's international business for $575 million in cash is likely to be viewed positively by investors as it could strengthen the company's balance sheet and allow for a sharper focus on its remaining operations. The exclusion of certain businesses from the deal indicates a phased divestiture approach, which may also be part of a strategic realignment. The impact on the stock price is likely to be positive in the short term as the market reacts to the influx of cash and potential for improved financial metrics.
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