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A O Smith Announces Majority Interest Of China Business Acquired By CPE

By Reuters News

Oct 27 (Reuters) - A. O. Smith Corporation AOS.N:

  • A. O. SMITH ANNOUNCES MAJORITY INTEREST OF CHINA BUSINESS ACQUIRED BY CPE; A. O. SMITH TO RETAIN 19% STAKE AND LONG-TERM BRAND LICENSE

  • A. O. SMITH CORPORATION - DEAL VALUES CHINA BUSINESS AT ABOUT $400 MILLION CASH-FREE, DEBT-FREE

  • A. O. SMITH CORPORATION - TO RETAIN 19% INTEREST AND ENTER LONG-TERM BRAND LICENSING AGREEMENT

  • A. O. SMITH CORPORATION - TOTAL VALUE INCLUDING LICENSING ECONOMICS EXPECTED TO EXCEED $500 MILLION

Further company coverage: AOS.N

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