VTRS - Viatris Phase 1 Asset Divestiture Story: Plans To Sell Certain OTC Products Women's Healthcare Business & More | Benzinga
Viatris Inc (NASDAQ: VTRS) disclosed multiple deals to sell remaining assets to conclude Phase 1 of planned asset disposition by the end of this year.
The company expects to garner gross proceeds of about $6.94 billion from all asset sales sold under the agreement, representing multiple over 12x on 2022 estimated Adjusted EBITDA.
VTRS targets using net proceeds to reduce debt, which is projected to deliver a gross leverage target of 3.0x in H1 2024, thereby finishing all Phase 1 commitments.
The company anticipates the deals to boost growth and shareholder returns as it enters Phase 2 of its strategic plan in 2024.
As per the terms, the combined disposition will transfer 12 facilities and over 6,000 employees (15% ...