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Leonardo sells U.S unit's ATM business to Spain's Indra

Reuters
Illustration shows Leonardo logo

MILAN (Reuters) - Leonardo has agreed to sell its unit Selex ES' Air Traffic Management (ATM) activities to Indra Air Traffic, a company controlled by Spain's Indra Sistemas, the Italian defence group said on Monday.

The closing of the transaction is expected in the first quarter of 2023, it added in a statement, without disclosing any financial details.

The ATM business of Leonardo U.S. unit Selex ES "is a leading developer and manufacturer of en-route navigation, surveillance and precision approach and landing systems," Leonardo said.

(Reporting by Cristina Carlevaro, editing by Federico Maccioni)