Leonardo to Sell Satellite Communications Business GES to SES for $450 Million


Milan: In a move to optimize its portfolio and focus on core business, Italian defence group Leonardo said its US unit DRS had agreed to sell its satellite communications business GES to SES for $450 million, gross of taxes, media reports said.

The reports said the deal is likely to be closed by the second half of 2022, Leonardo said in a statement, confirming its net debt guidance for this year at around 3.1 billion euros ($3.40 billion).

GES is the largest provider of commercial satellite communications to the US government and also supplies satellite communications and security solutions to customers across the world, Leonardo said.