Lennox Cools Off In Europe: Sells Hyfra Unit To Glen Dimplex Group
Portfolio Pulse from Shivani Kumaresan
Lennox International Inc (NYSE:LII) has agreed to sell its Hyfra Process Cooling business unit to the Glen Dimplex Group. The deal, expected to close in Q4 2023, will allow Lennox to focus on its North American operations. The financial terms were not disclosed. LII shares are trading higher by 0.85% at $360.71.
August 25, 2023 | 3:08 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Lennox International is selling its Hyfra Process Cooling unit to Glen Dimplex Group, allowing it to focus on North America. This has led to a slight increase in its stock price.
The sale of the Hyfra unit allows Lennox to focus on its North American operations, which is likely to improve its operational efficiency and profitability. This news has been positively received by the market, as indicated by the slight increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100