Eaton to Sell Lighting Business to Signify in $1.4 Billion Deal

Date : 10/15/2019 @ 9:17PM
Source : Dow Jones News
Stock : Signify NV (LIGHT)
Quote : 27.09  0.07 (0.26%) @ 9:31AM

Eaton to Sell Lighting Business to Signify in $1.4 Billion Deal

Eaton (NYSE:ETN)
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By Kimberly Chin

 

Eaton Corp. (ETN) has agreed to sell its lighting business to Signify NV in cash deal worth $1.4 billion.

The lighting unit, which serves commercial, industrial, residential and municipal customers, had sales of $1.7 billion in 2018, Eaton said.

The transaction is expected to close in the first quarter of 2020.

The power-management company said it had just wrapped up a strategic review, and had considered several potential transaction alternatives, it said.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

October 15, 2019 17:02 ET (21:02 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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