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Stock impact report

Elbit Systems Signs Definitive Agreement to Sell Ashot to FIMI Opportunity Funds for $88 Million

Elbit Systems Ltd. - Ordinary Shares (ESLT) 
Last elbit systems ltd. - ordinary shares earnings: 3/25 04:11 am Check Earnings Report
US:NASDAQ Investor Relations: ir.elbitsystems.com
Company Research Source: PR Newswire
HAIFA, Israel, Oct. 21, 2021 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ:ESLT) and (TASE: ESLT) ("Elbit Systems") announced today the signing of a definitive agreement for the sale of all ordinary shares held by its wholly-owned Israeli subsidiary, IMI Systems Ltd. ("IMI"), in IMI's 84.98%-owned subsidiary, Ashot Ashkelon Industries Ltd. (TASE: ASHO) ("Ashot") and all capital notes of Ashot held by IMI and Elbit Systems, to FIMI Opportunity Funds ("FIMI"), for approximately $88 million in cash (approximately NIS 285 million). The transaction is conditioned on various closing terms, including receipt of certain regulatory approvals.Ashot specializes in the manufacture of jet engine shafts, transmissions, gears and gearboxes, landing gear components and tungsten products for the aerospace and defense industries.FIMI is a leading private equity fund in Israel with more than $5.5 billion in assets under management.Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, said: "Since t Show less Read more
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