Vallourec: about to sell Düsseldorf-Rath site to CTP
(CercleFinance.com) - Vallourec has announced that it has reached an agreement to sell most of its Düsseldorf-Rath production site to CTP, Europe's largest listed industrial real estate developer.
The transaction involves the sale of a plot of land of around 900,000 m2 for E155m.
This land was home to Vallourec's main tube production site in Germany, which will be closed at the end of 2023 as part of the New Vallourec plan.
The transaction is expected to close towards the end of 2024, subject to the fulfillment of customary conditions precedent for this type of transaction, including CTP's receipt of the waiver of the municipality's pre-emption right.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The transaction involves the sale of a plot of land of around 900,000 m2 for E155m.
This land was home to Vallourec's main tube production site in Germany, which will be closed at the end of 2023 as part of the New Vallourec plan.
The transaction is expected to close towards the end of 2024, subject to the fulfillment of customary conditions precedent for this type of transaction, including CTP's receipt of the waiver of the municipality's pre-emption right.
Copyright (c) 2024 CercleFinance.com. All rights reserved.