TransDigm Group Completes Divestiture of Souriau-Sunbank Connection Technologies and Declares a Special Cash Dividend of $32.50 Per Share
Transdigm Group Incorporated (TDG)
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Source: PR Newswire
CLEVELAND, Dec. 20, 2019 /PRNewswire/ -- TransDigm Group Incorporated (NYSE: TDG), a leading global designer, producer and supplier of highly engineered aircraft components, announced today that it has completed the divestiture of Souriau-Sunbank Connection Technologies (Souriau-Sunbank) to Eaton Corporation plc (NYSE: ETN) in a transaction valued at approximately $920 million.Souriau-Sunbank was acquired by TransDigm in March 2019 as part of the Esterline Technologies acquisition and is a leading global supplier of highly-engineered interconnect solutions for harsh environments serving customers primarily in aerospace, defense and space end markets. The business is headquartered in Versailles, France and generated revenues of $363 million for the trailing 12-month period ended June 30, 2019.Following successful completion of the divestiture, TransDigm Group announced today that its board of directors has authorized and declared a special cash dividend of $32.50 on each outstanding sh
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