Vantiva: share price rebounds after asset sale

(CercleFinance.com) - Vantiva shares took off at the top of the Paris market's biggest gains on Friday following the announcement of a plan to sell its logistics solutions division (SCS).


The former Technicolor says it has entered into a put option agreement with a fund managed by private equity firm Variant Equity, based on an enterprise value of $40 million.

The group stresses that the board of directors has chosen Variant Equity as the best partner to support SCS's future, following a selection process described as 'competitive and impartial'.

Vantiva, which specifies that SCS's contribution will be presented as 'discontinued operations' in its 2024 accounts, explains that it intends to make the necessary asset write-downs, the evaluation of which is underway.

While the Group's 2024 forecasts remain unchanged, Vantiva is now aiming for Ebitda in excess of 100 million euros and positive free cash flow after financial expenses and taxes, and before restructuring and integration costs related to the acquisition of CommScope Home Networks.

Vantiva explains that the transaction will enable it to focus on optimizing its video, broadband and adjacent technologies businesses.

Following this announcement, Vantiva's share price climbed by over 9% on Friday on the Paris Bourse, bringing its year-to-date gains to 12%.

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