Dana Incorporated (NYSE:FCH) Files An 8-K Other EventsITEM 8.01. Other Events
On December 30, 2016, Dana Incorporated (“Dana”) completed the sale of its subsidiary, Dana Companies, LLC (“DCLLC”), to Enstar Holdings (US) Inc. (“Enstar Holdings”), a subsidiary of Enstar Group Limited. The assets of DCLLC include, among others, insurance rights relating to coverage against liabilities associated with personal injury asbestos claims and marketable securities which together fund DCLLC’s obligations relating to those claims. The transaction is governed by a membership interest purchase agreement entered into between Dana and Enstar Holdings. The sale price for DCLLC’s membership interest was $91.5 million, subject to customary closing balance sheet adjustments. In connection with the transaction, Dana expects to recognize a pre-tax charge to net income approximating $72 million.
About Dana Incorporated (NYSE:FCH)
FelCor Lodging Trust Incorporated is a real estate investment trust. The Company, through its subsidiary, FelCor Lodging Limited Partnership, holds ownership interests in approximately 40 hotels with over 12,440 rooms. The Company sells, acquires, rebrands and redevelops hotels. The Company’s hotels are located in approximately 20 states of the United States. The Company holds a portfolio of hotels managed by Hilton Worldwide (Hilton); Wyndham Worldwide (Wyndham); Marriott International Inc. (Marriott); InterContinental Hotels Group (IHG); Starwood Hotels & Resorts Worldwide Inc. (Starwood); Fairmont Raffles Hotels International (Fairmont); Highgate Hotels (Highgate); Morgans Hotel Group Corporation (Morgans), and Aimbridge Hospitality. Its hotels include Embassy Suites Atlanta-Buckhead; DoubleTree Suites by Hilton Austin; Embassy Suites Milpitas-Silicon Valley; Hilton Myrtle Beach Resort; Morgans New York; Wyndham Pittsburgh University Center, and Wyndham San Diego Bayside. Dana Incorporated (NYSE:FCH) Recent Trading Information
Dana Incorporated (NYSE:FCH) closed its last trading session up +0.03 at 8.01 with 663,992 shares trading hands.