Iveco's Defense business, which includes the Idv and Astra brands, has been acquired by Leonardo, a leading European company in the defense and security sectors. The acquisition agreement was reached on July 30, with an enterprise value of 1.7 billion euros announced for 2025, while the closing price of the sale stands at 1.6 billion euros, subject to certain adjustments due for finalization by early April. This deal is positioned to create a European champion in the land defense sector.

The net proceeds from the sale are set to be distributed amongst the shareholders of Iveco through an extraordinary dividend. Based on the sale price and expected closing adjustments, as well as separation costs incurred during the Defense Business spin-off, the expected dividend per share has been revised from an initial estimate of 5.5-6 euros to approximately 5.7-5.8 euros. The dividend payment is scheduled for April 20.

In addition to the dividend discussion, a special assembly for Iveco will take place on March 25 to deliberate on relevant issues surrounding the transaction. This merger aligns with broader trends in the European defense landscape, where consolidation is increasingly seen as essential for enhancing operational capabilities and competitiveness in the global market.