Brief: Msa Safety Announces Divestiture Of Its Subsidiary Holding Legacy Liabilities

MSA Safety

05/01/2023 21:47

Jan 5 (Reuters) - MSA Safety Inc  MSA.N :
    * MSA SAFETY ANNOUNCES DIVESTITURE OF ITS SUBSIDIARY HOLDING
LEGACY LIABILITIES
    * MSA SAFETY INC - EXPECTS TRANSACTION TO BE RECOGNIZED IN
ITS Q1
2023 RESULTS
    * MSA SAFETY INC - SOLD 100% OF EQUITY OF DIVESTED
SUBSIDIARY TO A
JOINT VENTURE BETWEEN R&Q AND OBRA
    * MSA SAFETY INC - FINANCED ITS CONTRIBUTION THROUGH
AVAILABLE
CASH AND BORROWINGS, INCLUDING A NEW $250 MILLION TERM LOAN
FACILITY
    * MSA SAFETY - IN CONNECTION WITH CLOSING OF DEAL, CO
CONTRIBUTED
$341 MILLION IN CASH, CASH EQUIVALENTS, WHILE R&Q AND OBRA
CONTRIBUTED ADDITIONAL $35 MILLION
    * MSA SAFETY INC -  IN CONNECTION WITH CLOSING OF DEAL, R&Q
AND
OBRA CONTRIBUTED AN ADDITIONAL $35 MILLION

Source text for Eikon:  ID:nPn1D0nx5a 
Further company coverage:  MSA.N 
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