A. O. Smith announces CPE acquired majority interest in China business
AOS•CPE acquired a majority interest in A. O. Smith’s China business, valuing it at about $400 million cash-free and debt-free. A. O. Smith will retain a 19% stake and a long-term brand license; total value including licensing economics is expected to exceed $500 million.
1. China business deal
CPE acquired a majority interest in A. O. Smith’s China business. The deal values the business at about $400 million cash-free and debt-free; A. O. Smith will retain a 19% stake and enter a long-term brand licensing agreement. Total value including licensing economics is expected to exceed $500 million.
