The Iveco group announces that “all the conditions for the closing of the sale of the Defense Business to Leonardo have been met”. The company thus finalized the agreement. The operation is worth 1.6 billion euros. The sale is expected in the next few days.
This closes the operation announced on July 30th and, as scheduled, the net proceeds from the sale will be distributed to shareholders as an extraordinary dividend. Between adjustments and separation costs, they let it be known that the dividend (initially estimated at 5.5-6 euros per share) is expected to be around 5.7-5.8 euros per share. Payment is scheduled for April 20th, as scheduled.
Leonardo acquires Iveco Group’s Defense
Leonardo has acquired 100% of the share capital of IDV Group Srl, which groups together the IDV and ASTRA brands. The operation has a value of 1.7 billion euros, with a final price paid of 1.6 billion euros net of contractual adjustments. The purchase was entirely financed through Leonardo’s available liquidity, without resorting to new debt.
The acquired business represents an industrial reality defined as “significant” in the land vehicle sector. From Leonardo’s note we can read the results for 2025:
- revenues of 1,368 million euros;
- 6 production sites between Italy, Germany, Romania and Brazil;
- 7 research and development centers;
- employs around 2 thousand people;
- produces light, medium and heavy armored vehicles, as well as logistical and tactical vehicles for military use.
According to CEO Roberto Cingolani’s statements, this move is a pillar of the Industrial Plan to strengthen Leonardo’s position as a leader in the land defense sector in Europe.
Proceeds from the sale distributed as an extraordinary coupon
Iveco Group has decided to redistribute the proceeds of the sale to its shareholders. The extraordinary coupon is currently expected to be between 5.7 and 5.8 euros for each ordinary share. The figure takes into account the price collected, the costs incurred for the separation of IDV (the enucleation) and the closing adjustments.
The next key steps already announced by the company are the Iveco Group shareholders’ meeting which, on March 25, will discuss the distribution; and the expected date for payment (in line with the Borsa Italiana calendar), i.e. 20 April.
Iveco Group, meanwhile, has removed the possibility of a split from the agenda of the meeting, because the direct sale was successfully completed.
The change of ownership was accompanied by the official comment from the Iveco Group top management, who underlined the strategic value of the sale for the industrial continuity of the brands involved.
Olof Persson, CEO of Iveco Group, described the operation with satisfaction.
The note reads:
This milestone represents a fundamental moment for the future of IDV and Astra. Our colleagues have demonstrated extraordinary dedication in responding to the growing demand for land defense vehicles and the technologies we have developed.
Leonardo’s CEO, Roberto Cingolani, also says he is satisfied. According to this, thanks to the operation, Leonardo adds the industrial skills to produce integrated platforms, both in the mobility and payload parts, and takes a further step in the inorganic growth strategy, one of the guidelines in the development of the Industrial Plan.
