Berkshire Unit To Pay $1.1B For IMI Noncore Businesses

Law360, New York (October 16, 2013, 2:28 PM EDT) -- 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...
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