L-3 Communications To Sell Marine Systems International Business - Quick Facts

(RTTNews) - L-3 Communications (LLL) announced that it has entered into a definitive agreement with Wärtsilä Corporation to sell its Marine Systems International or L-3 MSI business.

The company said it expects the transaction to be completed in the second quarter of 2015.

With a base purchase price of €285 million, the transaction is subject to customary adjustments and an estimated reduction of €60 million for L-3 MSI employee pension-related liabilities to be assumed by Wärtsilä Corporation, according to the company.

Headquartered in , L-3 MSI is a sector within L-3's Electronic Systems business segment, primarily focused on the commercial ship industry. L-3 MSI is a turnkey supplier of complete electrical systems, as well as integrated navigation, automation, communications, and power and propulsion systems for all types of ships, including cruise liners, ferries, and offshore and specialty vessels.