July 30, 2018 / 4:58 AM / 4 months ago

BRIEF-Oerlikon Signs Definite Agreement With Dana For Sale Of Drive Systems Segment

July 30 (Reuters) - OC OERLIKON CORPORATION AG PFAEFFIKON :

* OERLIKON SIGNED DEFINITE AGREEMENT WITH DANA INC. FOR SALE OF DRIVE SYSTEMS SEGMENT

* DIVESTITURE IS FOR ENTERPRISE VALUE OF CHF 600 MILLION

* ENTERPRISE VALUE APPROXIMATELY EQUALING CASH PROCEEDS EXPECTED FOR SALE AT CLOSING

* TRANSACTION IS EXPECTED TO CLOSE IN LATE 2018 OR Q1 OF 2019 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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