Azz inc. enters definitive agreement to divest majority interest in the company's infrastructure solutions segment

Advances azz's previously announced strategic review of assets;  establishes a 60%-40% joint venture to be controlled by fernweh group llc.;  approximate proceeds of $228 million;  furthers the transformation of the company into a pure play metal coatings company fort worth, texas , june 23, 2022 /prnewswire/ -- azz inc. ("azz" or the "company") (nyse: azz), and fernweh group llc ("fernweh"), jointly announced today they have entered into a definitive agreement whereby azz will contribute its azz infrastructure solutions segment1 ("ais") to ais investment holdings llc (the "ais jv"), and sell a 60% interest in the ais jv to fernweh at an implied enterprise value of ais of $300 million.
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