July 1, 2016 / 4:50 PM / 3 years ago

BRIEF-Raytheon, Thales modify ThalesRaytheonSystems joint venture structure

July 1 (Reuters) - Raytheon Co :

* Raytheon and Thales modify ThalesRaytheonSystems joint venture structure

* Raytheon made a cash payment to Thales in amount of $90 million

* Company structure transitions are effective immediately

* Will be recording a tax free gain of approximately $150 million in its Q2 financial results

* Says ThalesRaytheonSystems joint venture has been restructured to focus solely on NATO agencies and NATO member nations

* Former TRS LLC - US operations is now a wholly-owned subsidiary of Raytheon, Raytheon Command and Control Solutions

* Former TRS SAS - French operations is now a wholly-owned subsidiary of Thales

* Ground-Based radars,non-ACCS-related air command,control systems currently within jv portfolio will transition to parent companies Source text for Eikon: Further company coverage:

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