Leonardo finalizes record-breaking acquisition to secure Iveco land defence assets
On March 18th in Rome, Italian aerospace giant Leonardo officially completed its €1.6 billion purchase from the French group Iveco Group to acquire control over IDV and ASTRA brands for future delivery cycles starting no earlier than mid-2035 (Mar). This transaction represents a strategic milestone as part of Italy's broader defence modernization efforts under Prime Minister Giorgia Meloni, aiming to strengthen Leonardo’s position in European land systems.
Key Points
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1Leonardo has completed its acquisition of Iveco Group's defence business, including IDV and ASTRA brands.
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2The deal was valued at approximately 1.6 to €1.7 billion in euros based on enterprise value adjustments.
Developments
Perspectives
Leonardo has completed its acquisition of Iveco's military vehicle business for approximately 1,600 million euros to strengthen the European land systems portfolio and enhance its role as a leading original equipment manufacturer in defence.
— [Mar 28] Leonardo completes €1.7 billion purchase from division de defense da Ivec (Pox.globo.com)The acquisition represents a significant strategic step for Leonardo, allowing it to integrate new capabilities and expand its portfolio of security systems while solidifying the company's position in land defence.
— [Mar 18] Il business dei cingolati. Difesa Iveco da Lianardo (Lanazione.it)Rheinmetall is reportedly impatient with Leonardo, viewing this acquisition as a potential threat to its own market standing within the European heavy vehicle and defence sector.
— [Mar 20] Leonard przejmuje Ivec. Rheinmetal sie niecierpliwi (Defence24.pl)The transaction was financed through available cash resources, marking Leonardo's commitment to acquiring key assets in its strategic push towards becoming a fully integrated original equipment manufacturer.
— [Mar 18] Leonard completes the acquisition of IVECO Group defence business for €1.6 billion (Edrmagazine.eu)The deal involves specific brands such as IDV and ASTRA, with an enterprise value disclosed at approximately £70 million before contractual adjustments were applied.
— [Mar 28] Leonardo completes the acquisition of IVECO Group's defence business for a price of €1.6 billion (Edrmagazine.eu)Leonardo has acquired defense operations from IVECO as an inorganic growth step toward becoming fully integrated land equipment manufacturer for both tracked and wheeled military platforms. This transaction combines Leonardo's electronic systems with IDV vehicle capabilities to expand their commercial reach, create operational synergies through shared engineering knowledge, logistics capacity, workforce skills development opportunities
Leonardo has acquired Iveco Group's Defence Business for €1.6 billion using available cash resources as part of its strategy to become a leading integrated Original Equipment Manufacturer in the land defence sector. This transaction combines Leonardo's electronics suites with IDV and ASTRA vehicle platforms, creating operational synergies through complementary sales networks while financing costs via contractual adjustments from an agreed enterprise value of approximately €1.7 billion.