Honeywell Furnishes Details on Divestiture of Legacy Asbestos Liabilities
Summary
Honeywell International Inc. permanently divested certain legacy asbestos liabilities on September 29, 2025, by selling Sterling Wander LLLP, an indirect subsidiary, to Delticus. Sterling Wander was capitalized with related insurance assets and approximately $1.68 billion in cash at closing. This transaction removes the divested asbestos liabilities and related insurance assets from Honeywell's consolidated balance sheet, with Delticus assuming full management. * Divested all Bendix asbestos liabilities and certain non-Bendix liabilities (via Ex. 99.1). * Transaction strengthens annual free cash flow generation (via Ex. 99.1). * Advances Honeywell's priorities of portfolio optimization and simplification (via Ex. 99.1).
Why It Matters
This divestiture, announced via Exhibit 99.1, strengthens Honeywell's annual free cash flow generation and advances its strategic priorities of portfolio optimization and simplification, which is material for investors seeking improved financial performance and a streamlined business.
Filing Details
Reported Items
Additional Information
- CIK Number
- 0000773840
- Filing Date
- Wednesday, October 1, 2025
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- neutral