Zurn Elkay Water Solutions Corporation Announces Divestiture Of Four Wholly-Owned Subsidiaries That Hold Asbestos Liabilities And Related Assets And Certain Other Assets And Liabilities, To Zilco Holdings, Inc.
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Zurn Elkay Water Solutions Corporation (Zurn Elkay) has divested four subsidiaries holding asbestos liabilities to Zilco Holdings, Inc. The subsidiaries are Zurn Industries, LLC, OEI, LLC, OEP, LLC, and Krikles, Inc. This move will exclude asbestos liabilities from Zurn Elkay's year-end 2023 balance sheet, with no change to the business interactions of existing employees, customers, and vendors.

December 15, 2023 | 9:36 pm
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Zurn Elkay's divestiture of subsidiaries with asbestos liabilities is likely to positively impact its financials by removing these liabilities from its balance sheet.
The divestiture of the subsidiaries with asbestos liabilities is a significant step in improving Zurn Elkay's financial position. By removing these liabilities from its balance sheet, the company may be seen as a more attractive investment, potentially leading to a positive short-term impact on its stock price. The news is highly relevant as it directly pertains to Zurn Elkay's financial strategy and has a high importance due to the potential reduction in future financial risk. The confidence in this analysis is high, given the clear benefits of divesting liabilities.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100