March 22, 2018 / 7:14 AM / a month ago

Elbit nears purchase of Universal Avionics after govt approvals

JERUSALEM, March 22 (Reuters) -

* Israeli defence electronics firm Elbit Systems said on Thursday it was in the process of completing the acquisition of privately held U.S.-based Universal Avionics Systems Corp through an asset allocation agreement.

* Elbit said the parties received the necessary government approvals for the transaction.

* The closing of the deal is expected in the coming weeks, Elbit said.

* Elbit did not provide further details. (Reporting by Steven Scheer)

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