United Technologies Corp. has completed the $400 million sale of the former Goodrich Corp. electric power systems business, which was required by regulators as a condition of its $18.4 billion acquisition of Goodrich.
UTC agreed to the sale with Safran S.A., a French aerospace firm, in October, and the transaction was finalized March 26.
Approval of the mega-acquisition of Goodrich was contingent on UTC divesting of two legacy Goodrich businesses: its power systems unit and its pumps and engine controls business. The latter was sold to Triumph Group Inc., a Berwyn, Pa., aerospace company, with the transaction finalized March 18 for an unspecified price.
Sikorsky Aircraft Corp., based in Stratford, and Pratt & Whitney, based in East Hartford, are both UTC subsidiaries.
This page is available to subscribers. Click here to sign in or get access.