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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Airbus SE    AIR   NL0000235190

AIRBUS SE

(AIR)
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KKR mandates banks for defence supplier Hensoldt's IPO - sources

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10/15/2019 | 12:06pm EST
FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the NYSE in New York

FRANKFURT (Reuters) - Private equity firm KKR is advancing with preparations for a stock market flotation of German defence supplier Hensoldt in a deal potentially valuing the company at more than 2 billion euros ($2.2 billion), people close to the matter said.

The buyout group is working with JP Morgan and Bank of America on potentially listing 20-30% of the company on the Frankfurt stock exchange, in a deal that could take place in the second quarter of 2020, they said.

KKR and the banks declined to comment or had no immediate comment.

People close to the matter told Reuters last month that KKR was preparing for a stock market flotation or sale of Hensoldt.

The investor bought Airbus's defence electronics business for 1.1 billion euros in 2016 and later rebranded it Hensoldt, naming it after a 19th century German maker of binoculars and telescopes.

The business comprises military sensors, electronic warfare equipment, avionics and optronics. It employs 4,400 staff and has annual sales of 1.1 billion euros.

Hensoldt's high-tech cameras are used in products including Tornado fighter jets that fly surveillance missions over Syria and Iraq, while it also supplies radars for Eurofighter jets as well as periscopes for submarines and Leopard and Puma tanks.

The company also supplies identification systems for combat jets, night vision devices, radars for civil air traffic control and systems for civil and military efforts to counter drones.

(Reporting by Arno Schuetze; Editing by Mark Potter)

By Arno Schuetze and Abhinav Ramnarayan

Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE -0.21% 136 Real-time Quote.62.46%
BANK OF AMERICA CORPORATION 0.70% 32.93 Delayed Quote.33.64%
KERING -0.97% 540.5 Real-time Quote.32.60%
KKR & CO. INC. 0.13% 29.84 Delayed Quote.52.01%
PUMA SE 0.22% 67.8 Delayed Quote.57.96%
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Financials (EUR)
Sales 2019 70 055 M
EBIT 2019 6 778 M
Net income 2019 4 399 M
Finance 2019 13 838 M
Yield 2019 1,53%
P/E ratio 2019 24,2x
P/E ratio 2020 20,1x
EV / Sales2019 1,32x
EV / Sales2020 1,21x
Capitalization 106 B
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Number of Analysts 25
Average target price 143,96  €
Last Close Price 136,40  €
Spread / Highest target 21,7%
Spread / Average Target 5,54%
Spread / Lowest Target -19,4%
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Managers
NameTitle
Guillaume Faury Chief Executive Officer
Denis Ranque Non-Executive Chairman
Michael Schöllhorn Chief Operating Officer
Dominik Asam Chief Financial Officer
Luc Hennekens Chief Information Officer
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