Eaton Announces Intent to Spin Off Its Lighting Business
Eaton Corporation, PLC Ordinary Shares (ETN)
Last eaton corporation, plc ordinary shares earnings: 4/30 06:30 am
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Source: Business Wire
DUBLIN, Ireland--(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 l
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