PPG to sell optical subsidiary for $1.73B

|About: PPG Industries, Inc. (PPG)|By:, SA News Editor

PPG Industries (PPG) agrees to sell its majority stake in lens supplier Transitions Optical to Essilor International (ESLOF.PK) for ~$1.73B.

PPG plans to use proceeds from the deal on acquisitions and share repurchases, which it will resume doing after suspending buybacks earlier this year.