Brief: NN, Inc. Announces Sale Of Life Sciences Division For $825 Million

NN

24/08/2020 12:55

Aug 24 (Reuters) - NN Inc  NNBR.O :
    * NN, INC. ANNOUNCES SALE OF LIFE SCIENCES DIVISION FOR $825
MILLION
    * NN INC - FOLLOWING CLOSE OF TRANSACTION, LIFE SCIENCES
DIVISION
WILL COMBINE WITH MW INDUSTRIES
    * NN INC -CO'S  LIFE SCIENCES DIVISION WILL BE PURCHASED BY
AFFILIATES OF AMERICAN SECURITIES LLC, IN DEAL
    * NN INC - TO USE ESTIMATED $700 MILLION IN NET PROCEEDS
FROM SALE
TO FURTHER PAY DOWN DEBT

Source text for Eikon:  ID:nPn6WycXQa 
Further company coverage:  NNBR.O 

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