Vestis Agrees To Sell Its 39% Equity Stake In Aramark Uniform Services Japan Corporation To Majority Owner Mitsui & Co., Ltd. For $37M
Portfolio Pulse from Benzinga Newsdesk
Vestis has agreed to sell its 39% equity stake in Aramark Uniform Services Japan Corporation to Mitsui & Co., Ltd. for $37 million. The proceeds will be used for debt repayment, and the transaction is expected to close by October 2024.
September 30, 2024 | 10:34 am
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Vestis is selling its 39% stake in Aramark Uniform Services Japan to Mitsui for $37M, with proceeds going towards debt repayment. The sale is not expected to impact Vestis' financials significantly.
The sale of the stake is a strategic move to reduce debt, but it is not expected to materially affect Vestis' financials as the stake was a non-operating equity investment.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80