Spectris Sells 50% Stake in Environment Monitoring Business
December 14 2017 - 4:35AM
Dow Jones News
By Carlo Martuscelli
Spectris PLC (SXS.LN) said on Thursday that it has agreed to
sell a 50% stake in its environmental monitoring business EMS Bruel
& Kjaer to Macquarie Capital, a branch of Macquarie Group Ltd.
(MQG.AU), for 76.6 million Australian dollars ($102.3 million).
The sale is expected to complete early in the second quarter of
2018 and would transform EMS into a joint-venture, precision
instrumentation company Spectris said. Spectris would use the
proceeds of the sale to reduce its net debt.
"Macquarie Capital's expertise as a world-leading infrastructure
advisor and investor will be of great benefit to the new joint
venture in its next stage of development," it added.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
December 14, 2017 04:20 ET (09:20 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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