SPX To Sell SPX Transformer Solutions To GE-Prolec Transformers For $645 Mln Cash

SPX To Sell SPX Transformer Solutions To GE-Prolec Transformers For $645 Mln Cash
FAIRFIELD (dpa-AFX) - SPX Corp. announced Wednesday that it has entered into a binding agreement to sell 100% of the issued and outstanding stock of its wholly-owned subsidiary, SPX Transformer Solutions, Inc., to GE-Prolec Transformers, Inc., a subsidiary of a joint venture between General Electric Co. (GE) and Xignux S.A. de C.V. for a cash purchase price of $645 million.
SPX anticipates that after taxes on a gain from the sale, net proceeds will be approximately $540 million. The purchase price is subject to customary net working capital and similar adjustments at closing.

Related Keywords

,Transformer Solutions ,Transformers Inc ,Transformer Solutions Inc ,Prolec Transformers ,General Electric ,Engineered Solutions ,Process Cooling ,Sell ,Transformer ,Solutions ,Rolec ,Transformers ,Cash ,மின்மாற்றி தீர்வுகள் ,மின்மாற்றிகள் இன்க் ,மின்மாற்றி தீர்வுகள் இன்க் ,ஜநரல் மின்சார ,பொறியியலாளர் தீர்வுகள் ,ப்ரோஸெஸ் குளிரூட்டும் ,விற்க ,சாம்பல் ,