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PPG to sell optical subsidiary for $1.73B

Jul. 29, 2013 8:08 AM ETPPG Industries, Inc. (PPG) StockPPG, ESLOFBy: Carl Surran, SA News Editor
  • PPG Industries (NYSE:PPG) agrees to sell its majority stake in lens supplier Transitions Optical to Essilor International (OTCPK:ESLOF) 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.

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