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L3 Technologies completes $540M sale of Vertex Aerospace

Aerospace and military equipment provider L3 Technologies Inc. said it completed the previously announced sale of its Vertex Aerospace businesses to private equity firm American Industrial Partners for $540 million in cash, subject to customary adjustments.

"We will use the proceeds from the sale to continue our strategy of investing in businesses that position our company for growth," said L3 Chairman and CEO Christopher Kubasik.