Eaton Announces Intent to Spin Off Its Lighting Business
01 Marzo 2019 - 2:45PM
Business Wire
Power management company Eaton (NYSE:ETN) today announced that
it intends to pursue a tax-free spin-off of its Lighting business.
The spin-off will create an independent, publicly traded company
and is expected to be completed by the end of 2019. Goldman Sachs
is serving as Eaton’s financial advisor on the transaction.
The Lighting business is one of the world’s leading providers of
LED lighting and control solutions. Its broad range of innovative
products and systems are designed to maximize performance and
energy efficiency. The business, which had sales of $1.7 billion in
2018, serves customers in commercial, industrial, residential and
municipal markets.
This potential transaction will be discussed today during the
company’s annual investor conference. Following the event, access
to the conference materials will be available to all interested
parties via a link on the center of Eaton’s home page. An audio
replay of the webcast will be available at the same link.
Eaton is a power management company with 2018 sales of $21.6
billion. Its energy-efficient solutions help customers effectively
manage electrical, hydraulic and mechanical power more reliably,
safely and sustainably. The company is dedicated to improving the
quality of life and the environment through the use of power
management technologies and services. Eaton employs 99,000 people
worldwide and sells products to customers in more than 175
countries. For more information, visit Eaton.com.
This news release contains forward-looking statements about
Eaton’s intention to pursue a tax-free spin-off of its Lighting
business. These statements should be used with caution and are
subject to various risks and uncertainties, some of which are
outside of the company’s control. The following factors could cause
actual results to differ materially from those in the
forward-looking statements: Eaton’s ability to receive all required
approvals and consummate the spin-off transaction and Eaton’s
ability to complete the transaction on a tax-free basis. There
can be no assurance regarding the ultimate timing of the proposed
transaction or that the transaction will be completed. We do not
assume any obligation to update these forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190301005279/en/
EatonKelly Jasko, Corporate Communications, + 1 440-523-5304,
kellymjasko@eaton.comDon Bullock, Investor Relations, +1
440-523-5127
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