Triumph Group rises on sale of Product Support unit

Triumph

21/12/2023 13:48

**  Shares of aerospace and defense equipment supplier
Triumph Group  TGI.N  rise 6% to $13.01 before the bell
    ** Triumph announces sale of its Product Support unit,
specializing in maintenance and repair of critical aircraft
components, to AAR Corp  AIR.N  for $725 mln in cash
    ** Deal is expected to be accretive to AAR's revenue growth
and adjusted EPS in the first full fiscal year
    ** AAR's transaction is expected to provide run-rate cost
synergies of $10 mln
    ** Up to Wednesday's close, TGI up nearly 17% YTD

 (Reporting by Mehr Bedi in Bengaluru)
 ((Mehr.Bedi@thomsonreuters.com;))