Victoria (GB:VCP) has released an update.
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Victoria PLC has sold its Turkish ceramic tile manufacturer, Graniser, to Hasan Akgün for €36.8 million, which includes an assumption of debt. This deal includes a long-term supply agreement, allowing Victoria to maintain a cost-effective supply of tiles while enhancing its earnings and reducing leverage. The transaction aims to free up capital for the company’s strategic initiatives without impacting its other Turkish operations.
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