USFilter, a subsidiary of Vivendi Environnement (Paris Bourse: VIE and NYSE: VE) has entered into an agreement to sell its Filtration and Separations Group (FSG) business to Pall Corporation, East Hills, N.Y., (NYSE: PLL) for a total cash consideration of $360 million.
FSG specializes in industrial separations technology including membrane media, consumable cartridges, screening technology and custom process equipment. Total annual sales are approximately $270 million.
The sale furthers Vivendi Environnement’s announced strategy to divest non-core assets, and focus on its core environmental and water-wastewater businesses.
Total proceeds from the disposition of USFilter’s filtration and separations business, including the sale of the Johnson Screens business late last year, are approximately $500 million.
The transaction is expected to be completed by the end of March, and is subject only to normal regulatory approvals.
Source: Vivendi Environment
