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Article: Northrop Grumman Sells Remaining TRW Automotive Equity Stake for $209 Million.
- Article from:
- PR Newswire
- Article date:
- November 7, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES, Nov. 7 /PRNewswire-FirstCall/ -- Northrop Grumman Corporation announced today the sale of its entire remaining equity investment in TRW Automotive Holdings Corp. The company sold 9,743,500 shares of TRW Automotive Holdings Corp. for approximately $209 million, or approximately $21.41 per share. The sale, which is expected to close on or before Friday, Nov. 10, 2006, will result in a fourth quarter 2006 after-tax gain of approximately $72 million, or $0.21 per diluted share.
The shares were sold to TRW Automotive Holdings Corp. in a private transaction. Automotive Investors LLC (an affiliate of the Blackstone Group) and TRW Automotive granted ...