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Report: KKR readies defense supplier Hensoldt for Frankfurt IPO

KKR & Co. Inc. tapped JP Morgan and Bank of America as it prepares for the potential IPO of German defense supplier Hensoldt GmbH, Reuters reported, citing people close to the matter.

The flotation, which could value Hensoldt at more than €2 billion, is expected to happen in the second quarter of 2020, the sources said. A 20% to 30% stake of the company could be listed on the Frankfurt stock exchange, they added.

The private equity firm and the banks declined to comment or had no immediate comment on the matter, according to the report.