WASHINGTON (dpa-AFX) - L-3 Communications (LLL) said it agreed to acquire the assets of Thales Training & Simulation Ltd's civil aircraft simulation and training business. The purchase price is 83 million pounds, or approximately $132 million.
The acquisition, which is expected to be immediately accretive to L-3's results of operations, will be funded with cash on hand. The deal will be substantially structured as an asset purchase for income tax purposes.
As part of the deal, Thales Training & Simulation will be integrated into the L-3 Link Simulation & Training organization, which is part of L-3's Electronic Systems Group.
The deal is anticipated to be completed in the summer of 2012.
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