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Defence company Leonardo has made no decision on DRS business sale -Breaking

© Reuters. FILE PHOTO – The Leonardo logo can be seen at the celebrations of the 500th Eurofighter Typhoon, produced by European consortium, Caselle, Turin, Italy on April 11, 2017. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters – Defense and aerospace company Leonardo stated Wednesday that it has not made a decision on a deal to sell a part of its DRS division.

Bloomberg reported Wednesday that Leonardo is considering various options, including selling its Global Enterprise Solutions business. Bloomberg reported that it could have a value of up to $400million, according to people who are familiar with the matter.

Leonardo stated that it is aware of press reports about the potential sale of Leonardo DRS’s business line. It also said that the Italian group continues to evaluate options for creating shareholder value, which includes the option of disposing of business lines.

Leonardo had attempted to list DRS in the U.S. last year. Global Enterprise Solutions made it part. But, Leonardo decided not to go public with its offering because of adverse market conditions.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.