Leonardo DRS’ Merger with RADA Electronic Industries

Sullivan & Cromwell advised Leonardo DRS on the deal.

Leonardo DRS and RADA Electronic Industries have agreed to merge in an all-stock transaction following which Leonardo DRS will become a publicly-listed company. After the merger closes, Leonardo S.p.A. will own 80.5 percent of the combined company, and RADA shareholders will own 19.5 percent of the combined company. The deal was announced June 21.
Leonardo DRS provides defense products and technologies for the U.S. military and its allies. Its core capabilities include advanced sensing, force protection, network computing, and electronic power and propulsion. Leonardo DRS is headquartered in Arlington, Virginia and is wholly owned by Leonardo S.p.A., an Italian aerospace and defense company and one of Europe’s largest defense firms.
RADA Electronic Industries is an Israeli global defense company and leading provider of advanced software-defined military tactical radars and legacy avionics systems.
The S&C team advising Leonardo DRS includes Scott Miller (Picture), Lee Parnes, Mitchell Friedman and Andrew Ferry. Eric Wang, Zach Feldman and Eli Dubin are advising on tax matters. Jeannette Bander, Kristin Deliso and Joyce Lee are advising on executive compensation and benefits matters. Nader Mousavi, Matt Rosenberg and Julia Caffery are advising on intellectual property matters. Mario Schollmeyer and Wes Hopkin are advising on securities law matters. John Anselmi and Dave Rosenthal are advising on financing matters. From London, Juan Rodriguez and Axel Beckmerhagen are advising on non-U.S. regulatory matters. Eric Queen and Brad Smith are advising on U.S. regulatory matters.

Involved fees earner: John Anselmi – Sullivan & Cromwell; Jeannette Bander – Sullivan & Cromwell; Axel Beckmerhagen – Sullivan & Cromwell; Kristin Giglia Deliso – Sullivan & Cromwell; Scott Miller – Sullivan & Cromwell; Nader Mousavi – Sullivan & Cromwell; Lee Parnes – Sullivan & Cromwell; Eric Queen – Sullivan & Cromwell; Juan Rodriguez – Sullivan & Cromwell; Matthew Rosenberg – Sullivan & Cromwell; Mark Rosenberg – Sullivan & Cromwell; Mario Schollmeyer – Sullivan & Cromwell; Bradley Smith – Sullivan & Cromwell; Eric Wang – Sullivan & Cromwell;

Law Firms: Sullivan & Cromwell;

Clients: Leonardo DRS;

Martina Bellini

Author: Martina Bellini