Eaton to Sell Lighting Business to Signify in $1.4 Billion Deal
October 15 2019 - 5:17PM
Dow Jones News
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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