Elbit Systems Completes Sale Of Ashot

(RTTNews) - Elbit Systems Ltd. (ESLT) has completed the sale of all ordinary shares held by its Israeli subsidiary, IMI Systems, in IMI's 84.98%-owned subsidiary, Ashot Ashkelon Industries and all capital notes of Ashot held by IMI and Elbit Systems, to FIMI Opportunity Funds, for approximately $84 million in cash.

Bezhalel Machlis, Elbit Systems CEO, said: "This sale is consistent with our strategy to focus on our core areas of business. Since the acquisition of IMI by Elbit Systems, Ashot has improved its business focus and operational efficiency. We look forward to continuing our cooperative work with both Ashot and FIMI."