Leonardo Drs, the US subsidiary of Leonardo, has signed an agreement establishing the sale of the stake in Advanced Acoustic Concepts joint venture (AAC) in Tdsi, a subsidiary of the French company Thales.
AAC is a joint venture between Leonardo Drs and Thales Defense & Security active in the field of advanced sonar systems, training and knowledge management. The company works with the US Navy, has over 200 employees, and in 2021 generated revenues of $80 million.
The operation, Leonardo says in a note, will have to receive the appropriate authorizations from the regulatory bodies. The closing is expected for the second half of 2022.
In this context, Leonardo confirmed the 2022 guidance on net borrowing group value equal to 3,1 billion euro.
Alessandro Profumo, Leonardo's CEO, commented: “The operation represents a further step forward in the execution of the industrial plan, in line with the focus on the core business. Together with the recent sale of the Ges business, this represents a further step forward in the process of refocusing the DRS business portfolio".
At Piazza Affari the title Leonardo gains 1% to 10,105 euros per share against a 0,68% increase in the Ftse Mib.
