A Subsidiary Of Timken Company Completed Sale Of 5.00 Million Shares Of Timken India Limited

Timken

28/05/2024 22:19

Timken Co  TKR.N :
    * TIMKEN CO -  A SUBSIDIARY OF TIMKEN COMPANY COMPLETED SALE
OF
5.00 MILLION SHARES OF TIMKEN INDIA LIMITED
    * TIMKEN CO -  TRANSACTION REDUCED COMPANY'S OWNERSHIP IN
TIL FROM
57.70 PERCENT TO 51.05 PERCENT, GENERATING GROSS SALES PROCEEDS
OF OVER $230 MILLION
    * TIMKEN CO -  NET IMPACT FROM TRANSACTION AND RELATED USE
OF
PROCEEDS IS EXPECTED TO BE ACCRETIVE TO COMPANY'S EARNINGS PER
SHARE IN 2024
    * TIMKEN CO - INTENDS TO MAINTAIN A CONTROLLING INTEREST IN
TIL
AND IS CURRENTLY PLANNING NO FURTHER SALE TRANSACTIONS

Source text for Eikon:  ID:n0000098362-24-000095 
Further company coverage:  TKR.N