Disposal of Sunbank connectors business
Meggitt PLC, the global aerospace, defence and energy group announces that it has disposed of its Sunbank connectors business to Esterline Corporation.
The disposal realised a cash consideration of $45.0 million, subject to customary post-closing adjustments to working capital, plus an earn-out of up to $5 million.
David Johnson, President, Meggitt Equipment Group said:
“I am very pleased with the successful execution of this transaction. We have achieved good value for our shareholders, and have found an excellent home for the business.”
ENDS
For further information please contact:
Meggitt PLC
Richard Cashin, Investor Relations Tel: 01202 597597
Fiona Greig, Corporate Communications
Buchanan
Charles Ryland, Jeremy Garcia and Helen Greenwood Tel: 0207 466 5000