LEXINGTON, Mass., June 28 /PRNewswire/ -- Raytheon Company (NYSE: RTN)
today announced that it has finalized the divestiture of a majority interest
in its aviation support business, Raytheon Aerospace Company, to Veritas
Capital Inc. The companies announced the divestiture on April 6, 2001.
Under terms of the final agreement, Raytheon received $270 million in
consideration, including a $157 million cash payment at closing. Raytheon
also retains $47 million of receivables and $66 million of preferred and
common equity in the business. Veritas acquired 73.5 percent ownership of the
business with Raytheon retaining 26.5 percent.
With headquarters in Lexington, Mass., Raytheon is a global technology
leader in defense, government and commercial electronics, and business and
special mission aircraft.
Contact:
Amy Hosmer
781.860.2423
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
Amy Hosmer of Raytheon, 781-860-2423
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