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UK's Melrose to sell Nortek Air Management for $3.63 bln

April 19 (Reuters) - Melrose Industries said on Monday it has agreed to sell its Nortek Air Management business for 2.62 billion pounds ($3.63 billion) to Chicago-based Madison Industries, with a portion of the proceeds to be returned to shareholders.

$1 = 0.7217 pounds Reporting by Yadarisa Shabong in Bengaluru, Editing by Sherry Jacob-Phillips

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