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Leonardo Eyes Public Listing for DRS Subsidiary

Italy-based Leonardo said it intends to maintain control of U.S. defense subsidiary DRS even if the latter goes public, Reuters reported Thursday. 

The defense group previously announced that it was considering several options for Leonardo DRS to create shareholder value, including the possibility of an initial public offering on the New York Stock Exchange. 

“This vision and a possible IPO are not contradictory, as there are different ways to enhance the value of assets, while at the same time maintaining their control and benefiting from the advantages of having a significant footprint in the country,” Leonardo told the news wire service in a statement.

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