Cobham sells businesses to Meggitt in $200m deal

Specialists technologies provider Cobham has completed the sale of its composites businesses to engineering group Meggitt for $200m (£132.5m).

The FTSE 250 group had first announced the intention to divest its businesses in August this year, indicating the transaction would be consistent with its strategy of simplifying its portfolio by focusing on segments where it has scale and market leading positions.

The transaction, however, was still subject to customary regulatory approvals, which have now been received.

Cobham shares were down 0.10% to 291.50p at 0806 GMT on Wednesday.