Assa Abloy: two divestments to advance US project

(CercleFinance.com) - Assa Abloy on Friday announced two divestments in North America in a bid to secure the approval of the US Department of Justice, which is currently opposing its plan to buy the hardware and renovation business of the diversified industrial group Spectrum Brands.


The key Swedish locksmith says it has reached binding agreements to sell both Emtek and its smart door opening business in the US and Canada.

Both businesses, which represent a combined business of about 350 million dollars, have been sold for 800 million dollars, it said.


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