Brazilian competition authority approves Tredegar's sale of Terphane to Oben Group; closing expected Nov 1

TREDEGAR CORP

Brazil's CADE approved a merger control agreement on Oct 16, 2024, allowing Tredegar to sell Terphane to Oben Group.
Base consideration for Terphane is $116 million net cash-free and debt-free.
Tredegar expects after-tax net cash proceeds of $85 million, including $78 million at closing and $7 million from escrow release.
Transaction closing is planned for November 1, 2024, subject to post-closing commitments by Oben Group.

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