April 14 (Reuters) - France's Eurofins has agreed to sell its electrical and electronic testing unit to UL Solutions for an enterprise value of 575 million euros ($677 million), it said on Tuesday.
Shares in the testing and laboratory services provider rose 4.3% by 0725 GMT and were on track for their best trading day since January 5.
The divestment of MET Labs will allow Eurofins to focus capital on its core testing businesses in the food, environmental and pharmaceutical sectors, it said in a press release.
Eurofins said it would use the sale proceeds for debt reduction, share buybacks, strategic acquisitions and investments in artificial intelligence and robotics. It had confirmed nTUAC3M6HW its 2027 and mid-term financial goals in January.
The deal is expected to close by the end of 2026.
($1 = 0.8498 euros)
(Reporting by Dimitri Rhodes in Gdansk, editing by Milla Nissi-Prussak)
