(Alliance News) - Sogefi Spa announced Friday that it had finalized the sale of its Filtration division to the U.S. investment fund Pacific Avenue Capital Partners.

The cash consideration received by Sogefi, in line with the February 23 announcement, was EUR331.2 million, determined on the basis of an enterprise value of EUR374 million and adjustments taking into account estimated net working capital and net financial position as of May 31, 2024.

The sale and purchase agreement includes a price adjustment mechanism in the coming months based on the actual values of net working capital and net financial position as of May 31.

Sogefi closed Friday in the red by 0.5 percent at EUR2.93 per share.

By Chiara Bruschi, Alliance News reporter

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