Brief: Eaton Agrees to Acquire Controlling Interest in Ulusoy Elektrik, Expanding IEC Offerings in EMEA

Ulusoy Elektrik Imalat Taahhut ve Ticaret

01/02/2019 02:43

Jan 31 (Reuters) - Eaton Corporation PLC  ETN.N :
    * EATON CORP- REACHED DEFINITIVE AGREEMENT TO ACQUIRE 82.275
PERCENT CONTROLLING INTEREST IN ULUSOY ELEKTRIK IMALAT TAAHHUT
VE TICARET A.S.
    * EATON AGREES TO ACQUIRE CONTROLLING INTEREST IN ULUSOY
ELEKTRIK,
EXPANDING IEC OFFERINGS IN EMEA
    * EATON CORPORATION PLC -PURCHASE PRICE FOR SHARES IS
APPROXIMATELY $214 MILLION ON A CASH AND DEBT FREE BASIS
    * EATON CORPORATION- AS PART OF DEAL, CERTAIN UNRELATED
BUSINESSES
WITH EXPECTED REVENUE IN 2018 OF APPROXIMATELY $3 MILLION ARE
NOT INCLUDED IN THIS DEAL

Source text for Eikon: [ID: nBw7ffx1na]
Further company coverage:  ETN.N 

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