DCC plc (DCC.L, DCCPY), a Dublin-based international sales, marketing, and support services group, on Wednesday said it has completed the sale of its healthcare division, DCC Healthcare.
Details of the deal were disclosed in its April 22 stock exchange announcement.
As announced on May 13, DCC intends to return 800 million pounds of the proceeds to shareholders. It launched a 100 million pounds on-market share buyback in May, which is expected to complete in the coming weeks.
The company also plans to launch a 600 million pounds tender offer shortly after releasing interim results in November, with completion expected in December. The remaining 100 million pounds will be returned following receipt of unconditional deferred consideration in about two years.
The company said the transaction is a material step in its strategy to simplify operations, maximize shareholder value, and accelerate the growth of its energy business, its largest and highest-returning division.
As of the announcement made on April 22, the proposed deal valued DCC Healthcare at a total enterprise value of 1.05 billion pounds on a cash-free, debt-free basis.
The transaction was expected to complete in the third quarter of 2025. Following the deal closure, DCC anticipates a significant return of capital to shareholders.
Total expected net cash proceeds was anticipated to be around 945 million pounds, including an unconditional deferred amount of 130 million pounds receivable within two years.
On Tuesday, DCC closed trading, 1.44% lesser at 4,670 pence on the London Stock Exchange.
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