$1.8B CAM sale to cut debt at Stanley Black & Decker (NYSE: SWK)

robot
Abstract generation in progress

Stanley Black & Decker has completed the sale of its Consolidated Aerospace Manufacturing (CAM) business to Howmet Aerospace for approximately $1.8 billion in cash. The company expects to receive about $1.57 billion in net proceeds after taxes and fees, which it plans to use to significantly reduce its debt. This divestiture is part of a strategy to focus on core Tools and Outdoor businesses and achieve a target leverage ratio of around 2.5 times net debt to adjusted EBITDA by year end, enabling more dynamic capital allocation.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin