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The cash proceeds improve liquidity and enable capex in growth initiatives; preserving a 40% stake in Rocketdyne keeps upside in space tech, potentially supporting higher future value without full exposure to a volatile commercial space market.
What happened, with direct paths to the underlying reporting
L3Harris completed the sale of a majority stake in its commercial space propulsion, power and electronics business to AE Industrial Partners for an enterprise value of $845 million. RS-25 engine operations are excluded and LHX will maintain about 40% ownership in Rocketdyne, AE’s new space technologies venture, while proceeds are directed toward growth-focused capex and facilities.
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