PPG To Sell 100% Of Its Architectural Coatings Business In US And Canada At Transaction Value Of $550M To American Industrial Partners
Portfolio Pulse from Benzinga Newsdesk
PPG Industries has announced the sale of its Architectural Coatings business in the US and Canada to American Industrial Partners for $550 million. The transaction is expected to close in late 2024 or early 2025, pending customary closing conditions.
October 17, 2024 | 11:06 am
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PPG Industries is selling its Architectural Coatings business in the US and Canada for $550 million to American Industrial Partners. This strategic move is expected to close by late 2024 or early 2025.
The sale of the Architectural Coatings business is a strategic decision by PPG to streamline its operations and focus on core areas. The transaction value of $550 million indicates a significant divestment, which could positively impact PPG's financials and stock price in the short term as investors may view this as a positive restructuring move.
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