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Article: Elron Group Company 3DV Completes Asset Sale.
- Article from:
- Business Wire
- Article date:
- June 2, 2009
CopyrightCOPYRIGHT 2009 Business Wire. 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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TEL AVIV, Israel -- Elron Electronic Industries Ltd. (NASDAQ:ELRN) (TASE:ELRN) today announced that further to its announcement on March 29, 2009, 3DV Systems Ltd., a group company held by Elron and its subsidiary RDC - Rafael Development Corporation Ltd ("RDC"), has completed the sale of substantially all of its assets to a third party. Pursuant to the terms of the transaction, following the payment of certain expenses, proceeds to be distributed to Elron and RDC are expected to be up to approximately $3 million and $4 million, respectively. Elron currently expects to record a gain of between approximately $4 million and $5 million in the second quarter of 2009.
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