06:41 AM EDT, 04/04/2025 (MT Newswires) -- Velan ( VLNSF ) , a global manufacturer of industrial valves, late on Thursday said it has completed a permanent divestiture of its asbestos-related liabilities to an affiliate of Global Risk Capital at a cost to the company of US$143 million.

The divestiture is a significant part of Velan's ( VLNSF ) strategic financial realignment, the company said.

The deal was funded with a portion of the proceeds from a sale by its subsidiary Velan Valves Limited of 100% of the share capital and voting rights of its French subsidiaries Segault SAS and Velan SAS to Framatome SAS.