Leonardo acquires Iveco military division for €1.7 billion

Leonardo has completed the acquisition of Iveco’s military division, including the IDV and Astra brands, for a total value of €1.7 billion. The transaction aims to establish a large-scale European champion for the production of military land vehicles, addressing previous ownership fragmentation.

The deal includes a shareholder premium of approximately €5.8 per share. Leonardo expects the acquisition to significantly expand its land vehicle business, which was previously a marginal segment. The inclusion of the Piacenza plant allows the company to leverage dual-use technologies, bridging the gap between automotive and military manufacturing.

In a related context regarding industrial ties, the Indian Consul General in Milan, Lavanya Kumar, highlighted the strengthening economic relationship between India and Italy. Kumar noted that bilateral trade is projected to grow from €14 billion to €20 billion by 2029, with significant opportunities in manufacturing, defense, robotics, and aerospace. The expansion of the Indian community in Northern Italy and potential free trade agreements between India and the EU are seen as key drivers for future cooperation.