Clyde Blowers Capital, the Scottish industrial investor, has announced it has reached an agreement to sell its Clyde Union Pumps business to US-based SPX Corporation.
Clyde Union will continue to be run as a standalone business with a head office in Glasgow, under the leadership of the same management team. The deal involves SPX agreeing to acquire Clyde Union for a headline price of £750m ($1.25bn) – £700m of which will be in cash at completion and £50m subject to…
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