CRANBERRY TOWNSHIP, Pa.–(BUSINESS WIRE)–Westinghouse Electric Company today obtained approval from the U.S.
Bankruptcy Court for the Southern District of New York (the Court) of
the companys plan of reorganization (the Plan).
The Courts approval of the Plan is a significant milestone in the
companys strategic restructuring, which involves its previously
announced sale to Brookfield Business Partners L.P. (NYSE:BBU)
(TSX:BBU.UN). The sale is expected to close in the third quarter of
2018, subject to customary closing conditions including, among others,
regulatory approvals.
The Plan was overwhelmingly supported by Westinghouses credit…
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