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Article: Northrop Grumman sells TRW Automotive.
- Article from:
- United Press International
- Article date:
- November 19, 2002
CopyrightCOPYRIGHT 2002 United Press International. 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 19, 2002 (United Press International via COMTEX)
Defense giant Northrop Grumman Corp. said it has signed a definitive agreement to sell the TRW Automotive unit of TRW Inc. to the Blackstone Group in a deal that valued at $4.725 billion.
The Blackstone Group, a private investment firm, recently raised the world's largest private equity fund at $6.45 billion, and the purchase of TRW Automotive will be the first investment made by this fund.
Under the terms of the deal, which is conditioned on the closing of the Northrop Grumman/TRW merger, the Northrop will receive $4.725 billion, comprised of $3.757 billion in cash, $600 million ...