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News Breaks | | | | February 12, 2013 | | 17:35 EDT |  | VTNC | Vitran divests supply chain operation unit for $97M in cash
Vitran Corporation announced that it has reached an agreement to divest its Supply Chain Operation division to Legacy Supply Chain, based in Portsmouth, New Hampshire, for $97M in cash, subject to certain working capital adjustments. Vitran intends to use a portion of the net proceeds from this transaction to fully reduce its outstanding debt under its senior revolving credit facility and to support the development of its LTL business. The sale of the SCO business is expected to close by March 1. | |
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