L3Harris Completes Sale of Majority Stake in Commercial Space Propulsion, Power and Electronics Businesses to AE Industrial Partners
L3Harris Technologies (NYSE: LHX) has completed the sale of a majority stake in its commercial space propulsion, power and electronics businesses to AE Industrial Partners at a total enterprise value of $845 million.
The company expects to use the proceeds to invest in facilities and advanced technologies to meet unprecedented demands for growth.
L3Harris’ RS-25 rocket engine operations were excluded from the sale, and the company will maintain a ~40% ownership stake in AE Industrial Partners’ new space technologies business, which will be named Rocketdyne.
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