Northrop Grumman sells advisory unit for $1.65B

AP News
Posted: Dec 18, 2009 5:04 PM

Northrop Grumman Corp. has completed the sale of its advisory services business to an investment group led by General Atlantic LLC for $1.65 billion, the aircraft and security company announced Friday.

Affiliates of Kohlberg Kravis Roberts & Co. also were involved in the cash transaction involving the business, Tasc Inc., according to a Northrop Grumman statement.

The statement said Goldman Sachs and Credit Suisse represented Northrop Grumman in the deal.

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Shares of Northrop Grumman rose 3 cents in trading Friday, or 0.05 percent, to $55.72.