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United Technologies Corp To Sell Industrial Products Businesses To The Carlyle Group And BC Partners
United Technologies Corp announced it has reached agreement to sell its Milton Roy Co., Sullair Corp. and Sundyne Corp. industrial products businesses to BC Partners and The Carlyle Group (CG) for $3.46 billion. The transaction is expected to close by year end. As previously announced, proceeds from the sale will be used to repay a portion of the short-term debt incurred to finance the proposed acquisition of Goodrich Corporation.
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