Titan Machinery To Divest German Dealerships Via Two Asset Sales To New Holland Dealers For Undisclosed Sum
Benzinga Newsdesk 11 months ago
NewsAsset Sales
Titan Machinery Inc. (NASDAQ:TITN) ("Titan" or the "Company"), a leading network of full-service agricultural and construction equipment stores, today announced plans to divest its dealership operations located in
Titan Machinery Inc. (NASDAQ:TITN) ("Titan" or the "Company"), a leading network of full-service agricultural and construction equipment stores, today announced plans to divest its dealership operations located in Germany through two separate asset sale transactions. The planned transactions, which involve sales to existing New Holland dealers in the region, support CNH Industrial's ("CNH") (NYSE:CNH) dual-brand strategy and align with Titan's continued focus on optimizing its global footprint for enhanced returns on invested capital.
These divestiture transactions are expected to close in the next 120 days, subject to customary closing conditions and regulatory approvals. In aggregate, these transactions are expected to result in a pre-tax loss on sale of approximately $3million to $4 million.