NN Inc: Gains as co plans $825 mln sale of life sciences unit

NN

24/08/2020 12:53

** Shares of industrial goods maker NN Inc  NNBR.O  jump
nearly 21% premarket to $7.17 - set for their best day in nearly
four months
    ** Co to sell its life sciences division to affiliates of
American Securities LLC for $825 mln, net proceeds of which will
be about $700 mln  urn:newsml:reuters.com:*:nPn6WycXQa
    ** NN to use net proceeds to improve its debt position
    ** Stock set to open at a near two-week high
    ** NN down nearly 36% YTD, as of Friday's close

 (Reporting by Ambar Warrick in Bengaluru)
 ((Ambar.Warrick@thomsonreuters.com; +91-80-6182-2837; Reuters
Messaging: ambar.warrick.thomsonreuters.com@reuters.net;
Twitter: @AmbarWarrick))