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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.
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(END) Dow Jones Newswires
October 15, 2019 17:02 ET (21:02 GMT)
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