Ontex Group N.V. (GB:0QVQ) has released an update.
Ontex Group NV has announced a binding agreement to sell its Brazilian business to Softys S.A. for an enterprise value of approximately €110 million. This move is a significant step in Ontex’s strategic refocus on its core markets in Europe and North America and will contribute to reducing the company’s debt. The transaction includes a manufacturing facility in Brazil, involves around 1,400 employees, and is expected to close in the first half of 2025.
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