Summary
Honeywell International Inc. announced on October 31, 2005, that it has entered into a Stock Purchase Agreement to sell all outstanding shares of Novar USA Inc. to M & F Worldwide Corp. for $800 million. Novar USA is the parent company of the Security Printing Services business, which includes Clarke American and related entities. This divestiture represents a significant strategic move for Honeywell, allowing the company to shed a non-core asset and focus on its primary business segments. The transaction is subject to customary closing conditions, including antitrust approval under the Hart-Scott-Rodino Act. Investors should note that this filing primarily serves to announce the material agreement and provide limited factual information about the business itself, as detailed information regarding the business's financial performance or integration aspects will likely be provided in subsequent filings.
Key Highlights
- 1Honeywell agrees to sell Novar USA Inc. for $800 million.
- 2The sale includes all issued and outstanding shares of Novar USA Inc.
- 3Novar USA Inc. is the parent company of the Security Printing Services business (Clarke American and related companies).
- 4The transaction is structured as a Stock Purchase Agreement with M & F Worldwide Corp.
- 5The deal is subject to regulatory approvals, including Hart-Scott-Rodino antitrust review.
- 6This divestiture is a strategic move to streamline Honeywell's business portfolio.