The Rising Influence of Rising Affluence

[DewDiligence]

DE partially monetizes non-core asset for $300M:

http://www.sec.gov/Archives/edgar/data/315189/000110465913078165/a13-22984_1ex99d1.htm

Deere & Company has agreed to sell a majority interest in its landscapes business to the private equity investment firm of Clayton, Dubilier & Rice, LLC… As a result of the transaction, Deere will receive approximately $300 million in cash and will initially retain a 40 percent equity interest in the business.

… Deere formed the landscapes business in 2001 when it purchased and merged two companies that sold wholesale landscape supplies and irrigation products. Two other acquisitions were later added and now John Deere Landscapes is one of the largest U.S. wholesale suppliers of turf and ornamental agronomics, irrigation, outdoor lighting, nursery, and landscape materials.

The word initially in the quoted text above implies that DE intends to divest to the remaining 40% of this business at some point.