Ingersoll-Rand to Sell Remaining Stake in Hussmann to Panasonic

Ingersoll-Rand plc announced it will sell its remaining equity interest in Hussmann Parent, Inc. as part of a transaction where Panasonic Corporation acquires 100% of Hussmann's shares. Ingersoll Rand expects net proceeds of approximately $400 million, with closing anticipated in the first half of 2016.

“On December 21, 2015, Ingersoll-Rand plc (the “Company”) issued a news release announcing it will sell the Company’s remaining equity interest in Hussmann Parent, Inc. (“Hussmann”) as part of a transaction in which Panasonic Corporation is acquiring 100 percent of Hussmann's shares. Ingersoll Rand expects to receive net proceeds of approximately $400 million. The transaction is anticipated to close in the first half of 2016 subject to customary approvals and closing conditions.”

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