Sensata Technologies Holding plc (ST): restructuring charge — Sensata to sell Insights Business for $165M; records $95M impairment charge

In August 2024, affiliates of Sensata Technologies Holding plc (the “Company”) entered into a purchase agreement (the "Purchase Agreement") to sell its Insights Business (“Insights”) to an affiliate of Balmoral Funds, a private equity firm in Los Angeles, California, in exchange for total cash consideration of approximately $165 million, subject to working capital and other customary adjustments. The Company expects to close the sale of Insights in 2024, subject to regulatory and other closing conditions. In connection with entering into the Purchase Agreement, the Company expects to record a non-cash pre-tax charge of approximately $95 million in the third quarter of 2024.