Competition Authority in Brazil Approves the Sale of Tredegar’s Terphane Business Unit to Oben Group; Transaction Expected to Close on November 1
Tredegar Corporation (TG)
US:NYSE Investor Relations:
tredegar.com/investors
Company Research
Source: Business Wire
RICHMOND, Va.--(BUSINESS WIRE)--Tredegar Corporation (NYSE:TG) announced today that Brazil’s Administrative Council for Economic Defense (“CADE”) approved a merger control agreement allowing Tredegar to proceed with the sale of Terphane, its flexible packaging business headquartered in Brazil, to Oben Group. The conditions contained in the merger control agreement, mainly comprised of post-closing commitments for Oben to address certain competition concerns, are expected to be met with closing of the transaction planned for November 1, 2024.On September 1, 2023, Tredegar entered into an agreement to sell Terphane to Oben for net cash-free and debt-free base consideration of $116 million. Tredegar expects to realize after-tax net cash-free and debt-free cash proceeds from completion of the transaction of $85 million (after deducting projected Brazil withholding taxes, net working capital adjustments, escrow funds, US capital gains taxes and transaction expenses), including $78 mill
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News
- Tredegar Co. (NYSE: TG) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Tredegar Reports Third Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Tredegar Reports Third Quarter 2024 ResultsBusiness Wire
- Tredegar Completes Sale of Terphane to Oben GroupBusiness Wire
- Tredegar Surface Protection Launches New Packaging Film “Optennia”Business Wire
TG
Sec Filings
- 12/13/24 - Form 4
- 12/9/24 - Form 4
- 12/9/24 - Form 4
- TG's page on the SEC website