ELTA Systems Sells Its Stake in "ELISRA" to "ELBIT" in Consideration of US $67.5 Million Dollars
Feb 22, 2011
ELTA Systems Ltd. ("ELTA"), a subsidiary company of Israel Aerospace Industries Ltd., has reached an agreement with ELBIT Systems Ltd. ("ELBIT") with respect to the sale of ELISRA Electronic Systems Ltd. ("ELISRA") shares held by ELTA, constituting 30% of ELISRA's share capital, to ELBIT, in consideration for the sum of 67.5 Million Dollars.
The acquisition agreement has been approved by the Board of Directors of both ELTA and ELBIT.
The parties shall act to obtain any required third party approvals necessary for completion of the transaction.
For further information, please contact:
Doron Suslik
Deputy Corporate VP for Communications
Tel: 972 (3) 935-8509
Fax: 972 (3) 935-8512
e-mail: hpaz@iai.co.il
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