Dana Announces Sale of European Hydraulics Business for Terms Undisclosed
Portfolio Pulse from Benzinga Newsdesk
Dana Incorporated (NYSE:DAN) is selling its European hydraulics business to HPI Group, a venture of Apogee Group and EiM Capital. The deal, expected to close in the first half of 2024, includes operations in Italy, France, and Germany. This segment generated about $90 million in sales in 2023.
February 21, 2024 | 8:01 am
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Dana Incorporated is divesting its European hydraulics business to HPI Group, with the transaction including key operations in Italy, France, and Germany. This business segment recorded $90 million in sales in 2023.
The sale of Dana's European hydraulics business could be seen positively by investors as a strategic move to streamline operations and focus on more profitable segments. The divestiture of a segment generating $90 million in sales indicates a significant transaction that could potentially enhance Dana's financial flexibility and operational focus. The positive score reflects the potential for this transaction to be viewed favorably in the short term, given the strategic realignment and the focus on core operations.
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