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Raytheon To Realize $150 Million Gain In Modification To Thales Joint Venture

By Cal Biesecker

Friday, July 1st, 2016

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Raytheon To Realize $150 Million Gain In Modification To Thales Joint Venture

AN/MPQ-64F1 Improved Sentinel air defense radar offered by ThalesRaytheonSystems. (Photo: ThalesRaytheonSystems)

Raytheon [RTN] on Friday said it and France’s Thales agreed to immediately modify the structure of their ThalesRaytheonSystems (TRS) joint venture, a move that will result in a $150 million tax free gain for Raytheon in its second quarter financial results.Raytheon also said that the transaction includes a $90 million cash payment to Thales.The joint venture has been restructured to focus on NATO agencies and NATO member countries for the delivery of Air Command and Control Systems (ACCS), Theater Missile…

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