Receives A$35.4m in cash.
GUD Holdings announced the completion of the previously agreed sales of its 51% stake in Sunbeam Corporation Limited. This is in addition to its 49% share of Jarden Consumer Solutions (Asia) Limited to its joint venture partner, the US-based Sunbeam Products, Inc., doing business as Jarden Consumer Solutions (JCS). The parent company of JCS, Jarden Corporation, recently merged with Newell brands Inc.
GUD received cash of approximately A$35.4 million as a result of the sale. These sales of shares in Sunbeam Corporation Limited and Jarden Consumer Solutions (Asia) Limited were previously announced to the ASX on April 14, 2016.
