A.O. Smith to Sell 81% Stake in China Business to CPE
A. O. Smith announced agreements to sell an 81% stake in its China business to CPE, retain a 19% interest and secure long-term brand licensing royalties.
WASHINGTON (dpa-AFX) - A. O. Smith Corporation (AOS), a global water technology company, announced agreements to sell an 81% stake in its China business to alternative asset manager CPE, while retaining a 19% interest and securing long-term brand licensing royalties.The transaction values the China…