Leonardo completes acquisition of Iveco Group’s Defence Business

Leonardo completes the acquisition of Iveco Group’s Defence Business (IDV and ASTRA brands) for a price of €1.6 billion in line with the agreed Enterprise Value disclosed of €1.7 billion minus agreed contractual adjustments.

The transaction is financed through available cash resources. This strategic acquisition marks a significant step in Leonardo’s plan to strengthen its role as a leading, fully integrated Original Equipment Manufacturer (OEM) in the land defence domain.

The acquisition further enhances the Group’s comprehensive portfolio of solutions for defence and security, covering both tracked and wheeled platforms.

“The acquisition strengthens our position as a leading player in the land defence sector and enhances our competitiveness in a market offering significant long-term growth potential. Through this transaction, Leonardo acquires the industrial capabilities required to deliver fully integrated platforms, spanning both mobility and payload, and takes a further step forward in inorganic growth strategy, one of the pillars underpinning the execution of our Industrial Plan”, stated Roberto Cingolani, CEO and General Manager of Leonardo.

The acquisition also boosts joint commercial positioning, leveraging the complementary nature of the two companies’ sales networks and the ability to offer integrated solutions in high-potential markets.

Leonardo’s ability to offer a full-spectrum electronics suites, ranging from command-and-control systems to electro-optics and next-generation turrets, combined with IDV’s vehicle platforms, ensures to deliver high-performance, and end-to-end operational solutions.