Elbit Systems Ltd. has announced that it has reached an agreement to acquire the remaining 30 per cent of the shares of Elisra Electronic Systems Ltd., held by Elta Systems Ltd., a subsidiary of Israel Aerospace Industries Ltd. for $67.5 million.
Elbit Systems currently owns 70 per cent of Elisra’s shares, and following the acquisition, Elisra will become a wholly-owned subsidiary of Elbit Systems. The acquisition was approved by the boards of directors of Elta and Elbit Systems.
The parties will work to obtain third parties' approvals, to the extent necessary, in order to complete the acquisition.
