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BRIEF-Arconic Completes Sale Of Russian Operations

Reuters · 11/15/2022 17:00
BRIEF-Arconic Completes Sale Of Russian Operations

- Arconic Corp (PITTSBURGH) ARNC.N:

  • ARCONIC COMPLETES SALE OF RUSSIAN OPERATIONS

  • ARCONIC CORP - COMPLETED SALE OF 100% OF ITS RUSSIAN OPERATIONS TO PROMISHLENNIE INVESTITSII LLC,, FOR CASH PROCEEDS OF $230 MILLION.

  • ARCONIC CORP- TRANSACTION CLOSED AFTER CO GOT ALL REQUIRED APPROVALS, RESULTING IN RECEIPT OF $230 MILLION OF CASH CONSIDERATION FOR ALL OF COMPANY'S RUSSIAN ASSETS

  • ARCONIC CORP - CASH HELD IN RUSSIA WAS NOT AVAILABLE FOR DISTRIBUTION TO PARENT COMPANY BECAUSE OF LITIGATION INITIATED IN MARCH 2020 BY FAS

  • ARCONIC CORP - SOLD ENTITIES THAT WERE SUBJECT TO FAS RESTRICTIONS & CONSIDERS ITS INVOLVEMENT IN FAS LAWSUIT TO BE RESOLVED AS RESULT OF DIVESTITURE

Source text for Eikon: ID:

Further company coverage: ARNC.N


((Reuters.Briefs@thomsonreuters.com;))