May 23, 2018 / 10:59 PM / in a month

Australia's Reliance Worldwide buys UK's John Guest for $922.9 mln -statement

May 24 (Reuters) - Reliance Worldwide Corp Ltd is buying the U.K.’s John Guest Holdings Ltd for A$1.22 billion ($922.93 million), the Australian plumbing fittings maker said on Thursday.

Reliance said in a statement that the purchase price would be supported by raising equity of up to A$1.10 billion.

U.K.-headquartered John Guest is a maker of plastic “push-to-connect” (PTC) fittings.

$1 = 1.3219 Australian dollars Reporting by Aaron Saldanha in Bengaluru

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