January 29, 2019 / 7:49 AM / 3 months ago

Israel's Elbit sees Q4 expense of $65-$75 mln for IMI acquisition

TEL AVIV, Jan 29 (Reuters) - Israeli defence contractor Elbit Systems said on Tuesday it expects to post an expense of $65-$75 million in the fourth quarter related to its purchase of state-owned rival IMI Systems late last year.

Elbit said in a statement that following the $500 million acquisition it reorganized a number of its activities, including the establishment of two business divisions - a Land Systems Division and a C4I and Cyber Division.

Reporting by Tova Cohen, Writing by Ari Rabinovitch

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