Brief: Azz Inc. Enters Definitive Agreement To Divest Majority Interest In The Company's Infrastructure Solutions Segment

AZZ

23/06/2022 21:44

June 23 (Reuters) - AZZ Inc  AZZ.N :
    * AZZ INC. ENTERS DEFINITIVE AGREEMENT TO DIVEST MAJORITY
INTEREST
IN THE COMPANY'S INFRASTRUCTURE SOLUTIONS SEGMENT
    * AZZ INC - ESTABLISHES A 60%-40% JOINT VENTURE TO BE
CONTROLLED
BY FERNWEH GROUP LLC
    * AZZ INC - UNDER TERMS OF TRANSACTION, AIS JV WILL BE
GOVERNED BY
A BOARD WITH THREE REPRESENTATIVES FROM FERNWEH AND TWO
REPRESENTATIVES FROM AZZ
    * AZZ INC - ADVANCES AZZ'S PREVIOUSLY ANNOUNCED STRATEGIC
REVIEW
OF ASSETS
    * AZZ INC - APPROXIMATE PROCEEDS OF $228 MILLION FROM DEAL

Source text for Eikon:  ID:nPn2qHDt2a 
Further company coverage:  AZZ.N 

 ((Reuters.Briefs@thomsonreuters.com;))