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TransDigm Plans To Divest Souriau-Sunbank Connection Tech To Eaton

TransDigm Group Inc. (TDG) said that it plans to divest Souriau-Sunbank Connection Technologies to Eaton Corporation plc (ETN) in a transaction valued at approximately $920 million.

TransDigm will have the right to require Eaton to enter into a securities purchase agreement providing for the purchase by Eaton of the shares of the Souriau-Sunbank companies, after completion of the consultation process with Souriau's French works councils.

The transaction is expected to be completed during the fourth quarter of calendar 2019.

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