Thor Industries completes bus division sale to Allied Specialty Vehicles
Posted: 10/23/2013 at 3:19 pm
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Goshen Coach was one of the bus units acquired by Allied Specialty Vehicles. (Truth Photo By Ryan Dorgan)
ELKHART ó Thor Industries, Inc. announced the completion of the previously announced sale of its bus business to Allied Specialty Vehicles, Inc.
Cash proceeds of $100 million will be adjusted to reflect changes in net assets of the bus business since April 30 based on the final valuation of net assets as of Oct. 20.
Thor also stated its board of directors approved the payment of a special dividend of $1 per common share. The special dividend is payable on Nov. 19 to shareholders of record at the close of business on Nov. 5.
Thor expects to report preliminary sales for its fiscal first quarter ending Thursday, Oct. 31, on Monday, Nov. 4.