VERAISON is pleased that Ontex has successfully completed the sale of its Mexico business for net proceeds of €265 million. This was a key focus of our engagement agenda and enables Ontex to repay the €220 million bank loan, thereby strengthening the balance sheet in a sustainable way. The management team, led by the new CEO Gustavo Paz, can now focus even more on successfully developing the core business in Europe and North America, where Ontex has significant value creation potential. The remaining non-core businesses should also be divested in a timely manner.
