- L-3 (NYSE:LLL) has completed the sale of its Marine Systems International unit to Wartsila (OTCPK:WRTBY) for €295M, after the latter's assumption of approximately €60M of MSI employee pension-related liabilities and customary adjustments.
- Based on the terms of the sale, proceeds from the MSI divestiture total approximately $318M, before selling and other transaction expenses.
- Previously: Wartsila to acquire L-3 Marine Systems (Dec. 16 2014)