Flowserve To Divest Gestra AG Product Line - Quick Facts

(RTTNews) - Flowserve Corp. (FLS) announced it has entered into a conditional sale and purchase agreement to sell its Gestra AG business unit to Spirax-Sarco Engineering plc for an Enterprise Value of 186 million euros. In addition to the product's core manufacturing facilities in Bremen, Germany, the sale also includes several other smaller associated businesses supporting Gestra products.

Flowserve said the sale is part of an ongoing effort by the company to better align and optimize its product portfolio and manufacturing footprint, focusing on core business objectives.