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W.R. Berkley Corp. on Monday said it has an agreement to sell a wholly owned investment, Aero Precision Industries, and certain related aviation services businesses.
Terms of the deal were not disclosed. Greenwich, Connecticut-based Berkley expects to realize a pretax gain of approximately $130 million on the sale, the company said in a statement.
The company declined to disclose the buyer.
Aero Precision is a supplier of OEM systems and aftermarket aircraft spares.
Experts at a recent conference have warned of increasing cyber threats to aviation, reported NDTV citing the Press Trust of India.