SPX Corporation SPW
today announced that it has completed the sale of its SPX Service Solutions
business to Robert Bosch GmbH for approximately $1.15 billion, subject to
working capital adjustments. The expected net proceeds of the acquisition are
approximately $1 billion. SPX Corporation has reported this business unit as a
discontinued operation since the first quarter of 2012.
With the divestiture of SPX Service Solutions, SPX has exited its roots in the
automotive industry in order to focus on growing the company's Flow Technology
segment.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in