JELD-WEN Divests Australasia Business To Platinum Equity
Portfolio Pulse from Nabaparna Bhattacharya
JELD-WEN Holding, Inc. has completed the sale of its Australasia business to Platinum Equity, generating net proceeds of approximately $446 million. The company plans to use the funds to repay debt. The sale allows JELD-WEN to focus on its core regions, North America and Europe. Following the announcement, JELD shares are trading higher by 2.62% to $18 in the premarket session.
July 03, 2023 | 11:05 am
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POSITIVE IMPACT
The sale of JELD-WEN's Australasia business to Platinum Equity for $446 million is expected to strengthen the company's balance sheet and allow it to focus on its core regions. The news has led to a 2.62% increase in premarket trading.
The sale of JELD-WEN's Australasia business is a significant move for the company, as it allows it to focus on its core regions and repay debt. This is likely to be viewed positively by investors, as reflected in the premarket trading increase. The impact on the stock price is expected to be positive in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100