Griffon Corporation Enters Agreement to Form Joint Venture for AMES Australasia
Griffon Corporation has entered a definitive agreement to sell its AMES Australasia business to a joint venture formed with the business's management team and Australian financial investors. Griffon will receive $185 million in cash at closing and a $50 million subordinated note, retaining a 49% equity stake in the new joint venture while the management-led group holds 51%.
Key figures
- Cash proceeds
- 185000000
- Subordinated note
- 50000000
- Griffon equity stake
- 49%
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