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 Italy's Leonardo says to buy Iveco Defence for 1.7 bn euros
Italy's Leonardo says to buy Iveco Defence for 1.7 bn euros
 by AFP Staff Writers
 Rome (AFP) July 30, 2025

Italian defence and aerospace group Leonardo said Wednesday that it would acquire Iveco Defence, a division that makes armoured vehicles for military and civil use, for 1.7 billion euros ($1.95 billion).

Leonardo said the deal was expected to close in the first quarter of 2026, subject to regulatory approvals.

"This transaction reinforces Leonardo's position as a reference player in the European land defence market, a segment expected to experience sustained growth in the coming years," Leonardo's chief executive Roberto Cingolani said in a statement.

Earlier Wednesday, Leonardo posted a 11.7 percent rise in first-half revenues to 8.9 billion euros, while confirming its full-year guidance for revenues of approximately 18.6 billion euros.

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