A big move for former 3M subsidiary Solventum $SOLV WI (-0,35 %)The company has announced that it will sell its purification and filtration business to Thermo Fisher Scientific for a whopping USD 4.1 billion. $TMO (-1,3 %) for a whopping USD 4.1 billion. 👍
This deal, which is expected to be completed by the end of 2025, is intended to realign Solventum's business and reduce its debt burden. With net proceeds of approximately USD 3.4 billion, the company plans to mainly reduce its debt.
Bryan Hanson, CEO of Solventum, emphasizes that this sale is part of a comprehensive transformation plan. By focusing on strategic areas, the company aims to create long-term value for shareholders. The transfer of the business to Thermo Fisher, which supplies filters and membranes for various industries, will strengthen Solventum's innovation capabilities and enable the necessary investments in talent and programs.
This move demonstrates the importance for companies to focus on their core competencies while strengthening their financial foundations.