L3Harris sells 60% stake in space propulsion business for $845 million

Core Viewpoint - L3Harris Technologies is divesting approximately 60% of its space propulsion and power systems business to AE Industrial Partners for a total consideration of $845 million, which includes debt [1] Company Summary - The transaction involves the sale of a significant stake in L3Harris Technologies' space propulsion and power systems division [1] - The deal is valued at $845 million, indicating a substantial financial move for the company [1] Industry Summary - The divestiture reflects ongoing trends in the aerospace and defense sector, where companies are increasingly partnering with private equity firms to optimize their business portfolios [1]