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LTV SIGNS DEFINITIVE AGREEMENTS FOR SALE OF AEROSPACE/DEFENSE UNITS

LTV SIGNS DEFINITIVE AGREEMENTS FOR SALE OF AEROSPACE/DEFENSE UNITS
 DALLAS, April 22 /PRNewswire/ -- The LTV Corporation (NYSE: QLTV) has signed definitive agreements with Thomson-CSF, a French electronics manufacturer, and the Carlyle Group, a Washington-based investment firm, for the sale of two major units of LTV Aerospace and Defense Company, it was announced today.
 Under the agreements, Thomson-CSF will pay LTV $300 million cash for the Missiles Division, and the Carlyle Group will pay $150 million, including $110 million cash, for the Aircraft Division.
 The transactions were approved April 21 by the U.S. Bankruptcy Court for the Southern District of New York.
 The agreements call for the sale to close by July 31.
 Sale of the LTV Aerospace and Defense divisions is an important step toward LTV's reorganization and emergence from Chapter 11 bankruptcy proceedings.
 LTV is a diversified manufacturing company involved in steel, aerospace/defense and energy products.
 -0- 4/22/92
 /CONTACT: Charles M. Palmer, 214-979-7941, or Jerry Dalton, 214-979-7964, both of LTV/
 (LTV) CO: LTV Corporation ST: Texas IN: ARO SU: TNM


CK -- NY059 -- 1300 04/22/92 12:59 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
Words:185
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