Israel's IMI expects to complete sale to Elbit Nov. 1

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JERUSALEM, Oct 11 (Reuters) - Israeli state-owned defence firm IMI Systems said on Thursday it expects its sale to rival Israeli military electronics firm Elbit Systems to be completed on Nov. 1.

Elbit agreed in June to buy IMI for up to $522 million.

A subsidiary of IMI, Ashot Ashkelon, said in a statement to the Tel Aviv Stock Exchange that after a recent correspondence with the government authority handling the IMI privatisation, it expected the deal to take place at the start of next month.

This article appears in: World Markets , Stocks

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