SPX to Sell Balcke-Dürr Businesses to mutares AG

SPX Corporation's subsidiaries entered into an agreement to sell its Balcke-Dürr businesses, part of the Power Reportable Segment, to a subsidiary of mutares AG. The transaction involves nominal cash at closing, an €8.8 million loan from the sellers, and an earn-out arrangement.

“On November 22, 2016, certain of SPX’s subsidiaries entered into an agreement to sell SPX’s Balcke-Dürr businesses, a group within SPX’s Power Reportable Segment (“Balcke-Dürr”), to a subsidiary of mutares AG (the “Transaction”).”

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