Leonardo DRS to sell GES business to SES Government Solutions for $450M cash

Leonardo DRS, Inc.

Sale of Global Enterprise Solutions (GES) for $450M to SES Government Solutions, a subsidiary of SES S.A.
SES S.A. guarantees payment and performance; closing requires HSR, CFIUS, FCC approvals.
Termination date is March 21, 2023; SES pays $30M termination fee if deal fails due to regulatory events.
GES provides commercial satellite communications and security solutions to the U.S. Government.

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