Invensys sells Lambda for $235 million
Invensys plc reports it's selling its Lambda businesses to Japan-based TDK Corp. for approximately $235 million in cash. Lambda includes operations in Europe and North America, as well as a 58.2% interest in Densei-Lambda KK, which is listed on the Tokyo Stock Exchange. Lambda manufactures power supplies and uninterruptible power supply systems, which are used in the supply...
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Invensys plc reports it's selling its Lambda businesses to Japan-based TDK Corp. for approximately $235 million in cash. Lambda includes operations in Europe and North America, as well as a 58.2% interest in Densei-Lambda KK, which is listed on the Tokyo Stock Exchange. Lambda manufactures power supplies and uninterruptible power supply systems, which are used in the supply, regulation, and distribution of electrical power.
The transaction is subject to customary regulatory approvals and is expected to close on or before Sept. 30, 2005. Invensys plans to use proceeds from selling Lambda to pay its liabilities.
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