Rome, 07 November 2022 09:09
Leonardo announces the signing of an agreement for the sale of the Air Traffic Management (ATM ") activities of Selex ES Inc., a wholly owned US subsidiary, to Indra Air Traffic, Inc., a wholly owned subsidiary of the Spanish company Indra Sistemas S.A. Closing of the transaction, expected in 1Q 2023, is subject to customary regulatory clearances and conditions precedent.
The Air Traffic Management business of Selex ES Inc., based in Kansas, US, is a leading developer and manufacturer of en-route navigation, surveillance and precision approach and landing systems. The ATM activities of Selex ES are part of the Electronics Division perimeter but are a stand-alone business with no intra-group synergies.
For the transaction, Leonardo and Selex ES were assisted by Stephens, Inc. as financial advisor and by Hunton Andrews Kurth LLP as legal advisor.