Brief: Enerpac Tool Group Announces Definitive Agreement To Sell Cortland Industrial To Tufropes

Enerpac Tool

11/07/2023 20:23

July 11 (Reuters) - Enerpac Tool Group Corp  EPAC.N :
    * ENERPAC TOOL GROUP ANNOUNCES DEFINITIVE AGREEMENT TO SELL
CORTLAND INDUSTRIAL TO TUFROPES
    * ENERPAC TOOL GROUP CORP - TRANSACTION WILL HAVE MINIMAL
IMPACT
ON CONTINUING OPERATIONS
    * ENERPAC TOOL GROUP-INTENDS TO USE NET PROCEEDS FROM SALE
TO PAY
DOWN EXISTING DEBT & SUPPORT FURTHER STRATEGIC INVESTMENTS IN
GROWTH & PROFITABILITY
    * ENERPAC TOOL GROUP CORP - AS A PART OF PURCHASE AGREEMENT,
COMPANY WILL PROVIDE CERTAIN TRANSITION SERVICES TO TUFROPES FOR
A LIMITED PERIOD

Source text for Eikon:  ID:nBw2pYL0a 
Further company coverage:  EPAC.N 

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