Company officials restructure ThalesRaytheonSystems joint venture
NewsJuly 01, 2016
WALTHAM, Mass. Thales and Raytheon officials restructured their joint venture company, ThalesRaytheonSystems, to focus only on NATO agencies and NATO member nations for delivery of the Command and Control System, Theatre Missile Defense, and Ballistic Missile Defense (ACCS).
Representatives of both companies concluded the transaction to transition the stakeholder positions they each hold in the ThalesRaytheonSystems joint venture. Company structure transitions are effective immediately.
The former ThalesRaytheonSystems LLC – U.S. Operations is now a wholly owned subsidiary of Raytheon, Raytheon Command and Control Solutions. At the same time, the former ThalesRaytheonSystems SAS – French Operations is now a wholly owned subsidiary of Thales.
Moving forward, the parent companies will retain their ground-based radars and non-ACCS-related air command and control systems currently within the joint venture portfolio.
Raytheon made cash payment of $90 million to Thales and will be recording a tax-free gain of approximately $150 million in its second quarter financial results.
