The FTSE 100 engineering giant will spin off its GKN automotive arm from the high-powered aerospace business in a move it hopes will make each business more dynamic.
It will also give the car business equity it can use to do deals. It will be listed on the London Stock Exchange under a new, as yet undecided name.
That's a boost to the bankers that will do the deal and the wider market, which has been starved of fresh flotations.
Liam Butterworth, the GKN boss, will head the demerged business. GKN can trace its history back to the late 1700s.
It was bought by Melrose for £8 billion in 2018 in a deal that attracted close government scrutiny.
Diese Geschichte stammt aus der September 08, 2022-Ausgabe von Evening Standard.
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