Leonardo has signed an agreement for the sale of the business branch relating to the activities of Air Traffic Management (ATM) from Selex ES, an American company wholly owned by the defense company, to Indra Air Traffic, which is in turn controlled by the Spanish company Indra Sistemas SA
The closing of the transaction is expected in first quarter of 2023subject to the green light of the competent authorities.
What does ATM
Air Traffic Management of Selex ES, which is headquartered in Kansas, is active in the development and production of navigation systems, surveillance and precision approach and en-route landing. "The ATM activities of Selex ES pertain to the management perimeter of the Electronics Division, but are a separate business with no intercompany synergies", Leonardo explains in a note.
For the purpose of the transaction Leonardo and Selex ES have been assisted by Stephens, acting as advisor financial and by Hunton Andrews Kurth, as legal adviser.
In Bag, following the dissemination of the news relating to the sale of ATMs, the Leonardo stock is traveling above parity, marking an increase of 0,2 percent to 7,582 euros per share.
