KKR to sell or float German defence supplier Hensoldt

FRANKFURT/BERLIN, Sept 5 (Reuters): Private equity firm KKR is preparing for a stock market flotation or sale of German defence supplier Hensoldt in a potential 2 billion euro ($2.2 billion) deal, people close to the matter said.
The buyout group has in recent weeks listened to bankers present options for exiting its investment, including a listing of 20-30 per cent on the stock exchange or a sale to a defence group or private equity business next year, they said, adding KKR was expected to hire an adviser soon to help arrange a deal.
KKR declined to comment. 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 has said it intends to double its revenues by 2022, benefiting from an expected European military spending spree.