American Standard Companies Inc. (ASD) on Wednesday revealed the completion of the sale of its global Bath and Kitchen products business to funds advised by Bain Capital Partners, LLC, for $1.745 billion including closing adjustments. Combined with the March 2007 sale of Venesta Washroom Systems, American Standard Companies' gross proceeds from the sale of Bath and Kitchen now total $1.91 billion.American Standard Companies said it plans to use the net proceeds after expenses and taxes to repurchase common stock and reduce debt to keep the company at investment-grade standards.In addition, the company's board of directors authorized an additional $750 million for the repurchase of common stock through December 2008.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.