The Firm is representing L3Harris Technologies, Inc. (NYSE:LHX) in connection with the sale of its Combat Propulsion Systems and related businesses to RENK AG for about $400 million in cash. The transaction is subject to customary closing conditions, including receipt of regulatory approvals.
With annual revenue of approximately $230 million, the Combat Propulsion Systems business manufactures military engines and transmissions. L3Harris is an agile global aerospace and defense technology innovator. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately $18 billion in annual revenue and 48,000 employees, with customers in more than 100 countries.
The Simpson Thacher team includes Sebastian Tiller, Matt Gabbard, Alexander Porro and Katie McMahon (M&A); Jamin Koslowe and Ashlie Lawton (Employee Benefits); Sophie Staples (Tax); Michael Isby (Environmental); Lori Lesser and Melanie Jolson (IP); Krista McManus (Real Estate); Peter Guryan and Nathaniel Bronstein (Antitrust); Mark Brod (Capital Markets); and William B. Sheehan (Banking and Credit).