Arconic sells business unit in a $62 million deal (US)

Pittsburgh-based Arconic Inc. (NYSE: ARNC) reported an agreement to sell its U.K. forging business in a $62 million deal with Aero Forgings Bidco Limited. The company intends to close the transaction by the fourth quarter of 2019.  According to the company’s SEC filing, Arconic anticipates a $40 million to $50 million pre-tax charge for restructuring related expenses in the third quarter of 2019. The sales illustrates Arconic’s plan to divest its non-core businesses as it approaches a company split.

Source:

https://www.bizjournals.com/pittsburgh/news/2019/09/20/arconic-sells-business-unit-in-a-62-million-deal.html

Posted in Merger & Acquisition.

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