VivoPower Announces A$5M Sale of Non-Core Business Unit Kenshaw Electrical to ARA Group in Strategic Shift

4/29/24 7:38:27 AM ET

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VivoPower International PLC (NASDAQ:VVPR, ", VivoPower&rdquo, , or the ", Company&rdquo, , ))))) is pleased to announce that it has entered into a definitive asset sale agreement for the sale of one of its non-core business units, Kenshaw Electrical (“Kenshaw”), to ARA Group Limited (“ARA”), a leading diversified industrial services group based in Australia. This is in line with VivoPower’s previously announced strategy to focus on reinvesting in its strong growth businesses including Tembo.

Pursuant to the terms of the asset sale agreement, VivoPower will receive approximately A$5.0m in total consideration, subject to final net working capital adjustments.

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VivoPower Announces A$5M Sale of Non-Core Business Unit Kenshaw Electrical to ARA Group in Strategic Shift

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Chat with this insight

Recent Analyst Ratings for $VVPR

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Fastest customizable press release news feed in the world

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