An undisclosed buyer completed the acquisition of forgings business in united kingdom from arconic inc. (nyse:arnc).

An undisclosed buyer reached an agreement to acquire forgings business in united kingdom from arconic inc. (nyse:arnc) for approximately $62 million on september 13, 2019. the consideration is payable in cash and is subject to working capital and other adjustments. the transaction is subject to regulatory approvals and customary closing conditions and is expected to complete in fourth quarter of 2019. as a result of the transaction, arconic expects to recognize a restructuring-related charge of approximately $40 million to $50 million pre-tax in the third quarter of 2019, primarily related to the non-cash impairment of the net book value of the business. dla piper acted as legal advisor to arconic inc. an undisclosed buyer completed the acquisition of forgings business in united kingdom from arconic inc. (nyse:arnc) on december 1, 2019.
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