Vallourec to Sell Logistics Group (Indonesia) for €20 Million
VALLOUREC SA SP/ADR (VLOWY)
NASDAQ:AMEX Investor Relations:
vallourec.com/en/group/finance/investor_relations/pages/default.aspx
Company Research
Source: GlobeNewswire
VALLOUREC TO SELL LOGISTICS GROUP (INDONESIA) FOR €20 MILLION Meudon (France), November 25, 2024 – Vallourec, a world leader in premium seamless tubular solutions, announces today that it has entered into an agreement to sell its c. 99% participation in PT CPPI and PT SCN (“Logistics Group”) to CKB Logistics, a subsidiary of ABM Investama Tbk, for approximately €20 million, of which €2.9 million will be paid via an earn-out. Based in Batam, Indonesia, Logistics Group provides integrated port and logistics services to a growing variety of energy, industrial, construction and logistics clients, including Vallourec. Logistics Group is predominantly owned by PT Citra Tubindo, Vallourec’s Indonesian subsidiary specialized in heat treatment and premium threading. The transaction is expected to close in the fourth quarter 2024, subject to customary closing conditions including necessary regulatory approvals. Vallourec will continue to use Logistics Group’s services following the trans
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