CAE to buy L3Harris’s military training business for $1.05 bln

March 1 (Reuters) – Canada’s CAE Inc on Monday agreed to buy L3Harris Technologies Inc’s military training division for $1.05 billion to expand its defense business.

Flight simulator maker CAE will fund the deal by a private placement of roughly C$700 million ($551.96 million) from two institutional investors.

$1 = 1.2682 Canadian dollars Reporting by Shreyasee Raj in Bengaluru; Editing by Shailesh Kuber


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