Stanley Black & Decker Closes Sale Of Security Business To Securitas AB For $3.2 Bln

(RTTNews) - Stanley Black & Decker (SWK) announced Friday that it has completed the previously announced sale of most of its Security assets to Sweden-based Securitas AB for $3.2 billion in cash. The transaction further focuses Stanley Black & Decker's portfolio on its core businesses.

The sale includes Stanley Black & Decker's Commercial Electronic and Healthcare Security business lines (Security).

Net proceeds from the sale are expected to fund debt reduction and the $2.3 billion share repurchase completed in the first quarter. This transaction was announced on December 8, 2021.