Owens Corning to sell glass reinforcements business to Praana Group for $755M

Owens Corning signed a definitive agreement to sell its glass reinforcements business to Praana Group at an enterprise value of $755 million. The sale is part of Owens Corning's strategic plan to focus on residential and commercial building products.

“After a comprehensive review of strategic alternatives, the Owens Corning Board concluded that a sale of the business to the Praana Group supports the company’s strategic plan and results in the greatest overall value to its shareholders.”markets.financialcontent.com

• 1 source
• markets.financialcontent.comAbout Us | Oil & Gas Journal - Owens Corning to Sell Glass Reinforcements Business to Praana GroupOwens CorningJun 18, 2019

Summarized from public sources; check the original articles before acting on it.