Harsco To Sell Infrastructure Unit To $2.5B Joint Venture

Law360, New York (September 16, 2013, 4:54 PM EDT) -- Industrial services company Harsco Corp. announced Monday it has agreed to sell its infrastructure division into a joint venture valued at about $2.5 billion with private investment firm Clayton Dubilier & Rice, in an effort to streamline its operational structure.

Harsco will receive about $300 million in cash upon the close of the deal and a 29 percent stake in the combined company. The transaction will fuse Harsco’s infrastructure division with Brand Energy & Infrastructure Services Inc., which Clayton is acquiring simultaneously from First Reserve....
To view the full article, register now.