Power management company Eaton announced its plan to spin off its lighting business to create an independent, publicly traded company by the end of 2019.
The lighting business of Eaton covers a wide range of products and systems to maximize energy efficiency which records sales of US$ 1.7 billion in 2018. Eaton’s lighting business provides services to customers in commercial, industrial, residential and municipal market. The spin-off will include Eaton’s global airport lighting business and Mains lighting.
According to Eaton, Goldman Sachs will be Eaton’s financial advisor on the transaction and the potential transaction had been discussed at the company’s annual investor conference.
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