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Smiths Group to sell aerospace unit, to return 2.1 bln stg to shareholders


Published : Mon, 15 Jan 2007 08:29
By : Agencies
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LONDON (AFX) - Smiths Group PLC said it is selling its aerospace division to General Electric Co of the US for 4.8 bln usd and returning 2.1 bln stg to shareholders.

Smiths said it had also agreed with General Electric to form a security equipment joint venture in which Smiths will hold a 64 pct stake and GE will own 36 pct.

philip.waller@thomson.com

paw/ks

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