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BRIEF-SPX expects to record a pre-tax loss of $60-$70 million in connection with sale of its European power generation business
2016年11月23日 / 下午12点57分 / 1 年前

BRIEF-SPX expects to record a pre-tax loss of $60-$70 million in connection with sale of its European power generation business

Nov 23 (Reuters) - SPX Corp :

* Says expect to record a pre-tax loss of $60-$70 million in connection with sale of its european power generation business

* Says it does not expect consummation of deal to have a material effect on co’s leverage or liquidity in 2016

* Co’s units committed to providing a non-interest bearing loan of EUR8.8 million to mutares ag as per deal - sec filing

* The EUR8.8 million non-interest bearing loan is payable in installments due at years end 2018 and 2019

* SPX - co’s units agreed to leave about eur20 million of cash and sufficient working within Balcke-Dürr

* Says in event of termination of deal, breaching party will be required to pay a break-up fee of EUR2.5 million

* SPX-Agreed to earn-out arrangement whereby mutares ag will pay percentage of free cash flow of Balcke-Dürr, up to EUR5 million, beginning in 2020 Source text - bit.ly/2gKzkF3 Further company coverage:

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