July 31, 2018 / 7:09 AM / 16 days ago

SKF divests linear and actuation unit in $314 million deal with Triton

STOCKHOLM (Reuters) - Sweden’s SKF (SKFb.ST), the world’s biggest maker of industrial bearings, on Tuesday said it had agreed to divest its linear and actuation technology business to investment firm Triton for 2.75 billion crowns ($314 million).

The company’s divestments have raised around 6.7 billion crowns.

SKF said the total consideration for the deal is 2.75 billion crowns on a cash- and debt-free basis and is expected to close by the end of 2018.

SKF’s linear and actuation technology business had sales of 2 billion crowns in 2017.

Reporting by Olof Swahnberg; editing by Jason Neely

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