secwatch.observer — SEC 8-K summary
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Issuer:     Alexander & Baldwin, Inc. (—)
CIK:        0001545654
Form:       8-K
Filed at:   2023-11-15T23:59:59+00:00
Accession:  0001545654-23-000041
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

A&B completes $60M sale of Grace Pacific to Nan, Inc.; exits materials & construction business
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- Sold Grace Pacific and AB Maui Quarries for $57.5M ($42.5M cash + $15M promissory note).
- Also sold Grace Pacific's 50% stake in Maui Paving for $2.5M; combined consideration $60M.
- A&B released from all surety indemnity obligations related to Grace Pacific's construction bonds.
- Estimated loss on disposition of ~$9.5M, reflecting the Grace Disposal Group's carrying value.
- Sale marks completion of simplification strategy; A&B now focused solely on Hawaii commercial real estate.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1545654/000154565423000041/0001545654-23-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1545654/000154565423000041/alex-20231115.htm
  HTML page:      https://secwatch.observer/filing/0001545654-23-000041

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