Brief: Sotera Health Announces Settlement Of Ethylene Oxide Litigation In Illinois

Sotera Health

09/01/2023 23:57

Jan 9 (Reuters) - Sotera Health Co  SHC.O :
    * SOTERA HEALTH ANNOUNCES SETTLEMENT OF ETHYLENE OXIDE
LITIGATION
IN ILLINOIS
    * ADMINISTRATION AND COMPLETION OF SETTLEMENT AGREEMENTS IS
EXPECTED TO REQUIRE UP TO 90 - 120 DAYS
    * UNDER THE TERMS OF THE AGREEMENTS, STERIGENICS WILL PAY
$408
MILLION TO SETTLE THE CLAIMS
    * COMPANY WILL RECORD A CHARGE FOR $408 MILLION SETTLEMENT
FOR
YEAR ENDED 2022
    * WILL PURSUE INCREMENTAL DEBT FINANCING IN FIRST HALF OF
2023 TO
FUND A SIGNIFICANT PORTION OF SETTLEMENT PAYMENT
    * STERIGENICS WILL FUND AN ESCROW ACCOUNT TO PAY THE
SETTLEMENT BY
MAY 1, 2023

Source text for Eikon:  ID:nGNX6WQ705 
Further company coverage:  SHC.O 
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