L3Harris Technologies (NYSE:LHX) is nearing completion of an agreement to divest a 60% interest in its space and propulsion businesses to private equity firm AE Industrial Partners, according to people familiar with the discussions.
Sources said the transaction could be unveiled as soon as Monday, with AE Industrial Partners expected to pay more than $500 million for the controlling stake in the portfolio.
If finalized, the deal would hand operational control of the space and propulsion assets to AE Industrial Partners, while allowing L3Harris to retain a meaningful minority ownership and continued exposure to the businesses’ future performance.
Neither L3Harris nor AE Industrial Partners has issued an official statement regarding the potential transaction.