BRIEF-ODP Corp says it sold Varis division to affiliate of Arising Ventures, retains minority interest of 19.9%

Reuters

2024/10/23

Oct 22 (Reuters) - ODP Corp :

* ODP CORP - SOLD ITS VARIS DIVISION TO AFFILIATE OF ARISING VENTURES, WHILE RETAINING MINORITY INTEREST OF 19.9% AFTER SALE

* ODP CORP - TERMS OF SALE DID NOT RESULT IN MATERIALLY DIFFERENT IMPACT THAN PREVIOUSLY ESTIMATED ON CO'S FINANCIAL STATEMENTS

* ODP CORP - WILL FUND UP TO $4 MILLION OF EXPENSES THAT MAY BE INCURRED BY VARIS FOLLOWING TRANSACTION DATE UNTIL DECEMBER 31, 2025

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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