The ODP Corporation announced the completion of the sale of its Varis Division. This divestiture involved ODP retaining a 19.9% minority interest in Varis, aligning with the company's strategic objectives to streamline its business operations.
Under the terms of the agreement, ODP will fund up to $4 million of Varis's expenses until December 31, 2025. Following this period, ODP will have no further obligations to contribute capital to the divested entity.
This strategic move is part of ODP's broader effort to focus on its core business-to-business (B2B) distribution platform and reallocate resources towards higher-growth opportunities, reducing its exposure to non-core assets.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.