Berkshire Unit To Pay $1.1B For IMI Noncore Businesses

Law360, New York (October 16, 2013, 2:28 PM ET) -- Britain's IMI PLC announced Wednesday it had agreed to sell its beverage dispenser and retail merchandising businesses to a unit of Berkshire Hathaway Inc. for $1.1 billion in a move to focus on its core business of providing fluid-flow systems to industrial end markets.

In a deal is expected to close in the first quarter of 2014, the Marmon Group LLC will acquire a beverage business that makes valves for drink dispensers and accounts for about 14 percent of IMI's revenue but has been struggling as...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers