Eaton Corporation announced the sale of its lighting business

Create Date: 2024-8-30 12:03:23|Source: Eaton/Eaton

SHANGHAI, China – Eaton (NYSE: ETN), a global power management company, announced on October 15, 2019 that it has entered into a definitive agreement with Signify N.V. (Euronext: LIGHT) for the sale of its lighting business for $1.4 billion in cash. The decision was made after a thorough weighing of various potential transaction options to maximize shareholder value.

Eaton's lighting business is one of the world's leading suppliers of LED lighting and control solutions. Its wide range of innovative products and system designs maximize performance and energy efficiency. The business has a long history of serving customers in the commercial, industrial, residential and municipal markets, with sales of $1.7 billion in 2018.

Craig Arnold, Chairman and Chief Executive Officer of Eaton Corporation, said, "This decision is another testament to how Eaton Corporation actively manages its portfolio of solutions to create value for shareholders. ”

The transaction, subject to customary closing conditions and regulatory approvals, is expected to close in the first quarter of 2020 with Goldman, Sachs & Co. LLC. acting as financial advisor to Eaton.

Eaton Corporation announced the sale of its lighting business

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