Jeld-Wen Holding announced that it has completed its comprehensive review of strategic alternatives for its Australasia business and has entered into a definitive sale agreement with Platinum Equity to sell 100% of the business for approximately A$688M before tax and subject to certain adjustments. Jeld-Wen anticipates minimal tax leakage associated with the transaction. "Today’s announcement marks continued execution against our strategy to streamline and simplify our business and maximize shareholder value," said William J. Christensen, JELD-WEN chief executive officer. "I want to personally thank our Australasia team for their hard work and dedication to serving customers. We look forward to working with Platinum on executing a seamless transition for the business." The transaction is expected to close in the third quarter of 2023, subject to certain closing conditions and regulatory approvals.
Published first on TheFly
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