Leonardo's Strategic Expansion into Land Defense

In a landmark deal, Italian aerospace and defense giant Leonardo S.p.A. has agreed to acquire Iveco Group N.V.'s Defense Business, including the IDV and ASTRA brands, for an enterprise value of €1.7 billion. This acquisition marks a significant step in Leonardo's ambition to become a world-class player in land defense activities.

A New Chapter for Iveco's Defense Business

Iveco's CEO, Olof Persson, highlighted the strategic importance of the deal, stating, "This agreement propels Iveco Group's Defence Business into its proper dimension as a key contributor alongside Leonardo in the creation of a focused, world-class player in land defence activities." The transaction, expected to be completed by March 31, 2026, will see Iveco distributing the net proceeds to its shareholders through an extraordinary dividend.

Strategic Separation for Greater Focus

Earlier this year, Iveco announced its decision to separate its Defense Business from its commercial operations to allow both entities greater strategic flexibility and focus. This move underscores the company's commitment to streamlining its operations and enhancing value for its stakeholders.