As widely anticipated, it will be the Leonardo Group that acquires Iveco’s Defence Vehicles division, which specialises in the design and production of military vehicles. The announcement came in the late afternoon of 30 July 2025, during the presentation of second-quarter results. There were three contenders for the acquisition – the others being Knds and Czechoslovak Group – but after the Italian government openly backed Leonardo, declaring that this asset is strategic and must remain under Italian control, the decision had long been seen as a foregone conclusion. Leonardo will pay around 1.7 billion euros for Iveco Defence Vehicles. This is the second major divestment of a specialised division by Iveco, following the sale of Magirus, the manufacturer of fire-fighting vehicles. This latest sale could pave the way for the disposal of the rest of the company, which produces industrial vehicles, buses and engines. In this case, Indian firm Tata Motors is in pole position.
