Leonardo sells 6.9% in its U.S. unit DRS at $17.75 per share

Leonardo DRS

17/11/2023 07:17

ROME, Nov 17 (Reuters) - Italy's defence and aerospace
conglomerate Leonardo  LDOF.MI  said on Friday it had sold 6.9%
of its U.S. subsidiary DRS  DRS.O  at $17.75 per share.
    The state-controlled group sold 18 million shares in the
upsized public secondary offering, leaving it with a 73.3% stake
in DRS. Leonardo also granted a 30-day option to underwriters
for the purchase of a further 2.7 million shares. 
    DRS will not receive any proceeds for the offering, the
conglomerate said in a statement.
    "With this transaction we will continue to consolidate
Leonardo DRS and maintain a significant industrial and
commercial presence in the US, the largest defense market in the
world," Chief Executive Roberto Cingolani said in the statement.

 (Reporting by Giulia Segreti, editing by Federico)
 ((Giulia.Segreti@tr.com; +39.06.80307714;))