6th Mar 2019 08:09
LONDON (Alliance News) - Melrose Industries PLC on Wednesday said it agreed to sell Walterscheid Powertrain Group to US-based private equity firm One Equity Partners.
Walterscheid is a provider of original equipment, aftermarket parts and services for off-highway powertrain applications, Melrose explained. The unit was previously known as GKN Off Highway Powertrain.
Furthermore, the FTSE 100-listed company said that its subsidiary, Fokker Aerospace BV, has completed the sale of its 43.57% interest in Societe Anonyme Belge de Constructions Aeronautiques, which manufactures components for aircraft and space launchers, to its majority shareholder, Dassault Belgique Aviation SA.
Together, the together disposal will generate proceeds of around GBP200 million.
Melrose shares were trading down 0.5% at 180.63 pence each on Wednesday morning.
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