Honeywell Completes Spinoff of Turbocharger Business
Honeywell (HON) has completed its spinoff of Garrett Motion Inc. in an all-cash deal worth $3.8 billion.
The transaction, which closed on February 15, marks the end of a multi-year effort by Honeywell to separate its turbocharger business from the rest of the company.
Honeywell first announced plans to spin off Garrett Motion in May 2020, citing a desire to focus on its core aerospace and defense businesses.