On January 14, 2025, Velan Inc. (TSX: VLN) agreed to sell its French subsidiaries, Segault SAS and Velan S.A.S., to Framatome SAS for €192.5 million (~$284.7 million CAD or $198.4 million USD). The deal includes a €170 million (~$251.4 million CAD) purchase price and a €22.5 million (~$33.3 million CAD) intercompany loan transfer. The sale supports Velan’s strategy to enhance its balance sheet while maintaining local operations.

BMO Capital Markets served as Velan’s financial advisor, with legal counsel from Davies Ward Phillips & Vineberg LLP and Bredin Prat. McCarthy Tétrault LLP advised Velan Holding, while Jones Day represented Framatome. The transaction requires shareholder approval and regulatory consultations.