Warburg Pincus to acquire InTelCo Management from ITT.

Warburg Pincus, a global private equity firm, agreed to acquire InTelCo Management, a wholly owned subsidiary that holds long-term liabilities including asbestos liabilities and related insurance assets, from ITT, an American worldwide manufacturing company. Financial terms were not disclosed. "Today’s announcement represents the culmination of our multi-year strategy to reduce ITT’s legacy liability profile. This transaction, along with our successful U.S. pension plan termination executed in October 2020, position us very favorably for future growth and capital flexibility," Luca Savi, ITT President and CEO.