February 22, 2011 / 7:34 AM / 8 years ago

Elbit Systems to buy rest of Elisra for $67.5 mln

TEL AVIV, Feb 22 (Reuters) - Israeli defence electronics company Elbit Systems (ESLT.TA) agreed to acquire the remaining 30 percent of Elisra Electronic Systems held by Elta Systems for $67.5 million.

Elbit Systems (ESLT.O) owns 70 percent of Elisra’s shares and following the acquisition Elisra will become a wholly owned subsidiary of Elbit, the company said on Tuesday.

The parties will work to obtain third parties’ approvals to complete the acquisition, said Elbit, Israel’s largest publicly traded defence company.

Elisra provides systems for electronic warfare and intelligence.

Elta is a subsidiary of state-owned Israel Aerospace Industries. (Reporting by Tova Cohen; Editing by Erica Billingham)

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