Iveco Group Sells Remaining Defence Stake to Brazilian Aerospace Group in São Paulo Deal Facilitated by Rolim Goulart Cardoso

Rolim Goulart Cardoso in São Paulo has advised Iveco Group on the sale of its remaining stake in its defence business to Leonardo S.p.A., the Italian aerospace and defence company, in a transaction valued at €1.7 billion (US$2 billion).

The deal, announced on 18 March 2026, involves the transfer of full ownership of Iveco Group’s Defence Business, which includes the IDV and ASTRA brands, to Leonardo. This follows an agreement initially announced on 30 July 2025, under which Leonardo acquired the defence business for an enterprise value of €1.7 billion, corresponding to a sale price of €1.6 billion, subject to closing adjustments.

According to Iveco Group’s announcement on 18 March 2026, the transaction was completed on that date, with the net proceeds to be distributed to shareholders through an extraordinary interim dividend. Based on the sale price and expected closing adjustments, the dividend is estimated to range from €5.7 to €5.8 per issued and outstanding common share.

The Extraordinary General Meeting of Iveco Group shareholders was held on 25 March 2026 to discuss the distribution of the extraordinary dividend, which was determined by a resolution of the Board of Directors. As a result of the transaction, the agenda item regarding the spin-off of the Defence Business through a demerger was removed from the meeting’s agenda.

Iveco Group published an Informative Document concerning the sale on 31 March 2026, detailing the transaction as per regulatory requirements. The document is available in the Investors section of the company’s corporate website.

Prior to this transaction, Leonardo already held a 50% stake in Iveco Defence through a joint venture with Iveco Group. The acquisition of the remaining stake gives Leonardo full control of the defence business, creating what Iveco Group describes as a European champion in the land defence segment with enhanced scale and global competitiveness.

The defence business being sold includes operations tied to Brazilian assets, as noted in the advisory role of Rolim Goulart Cardoso’s São Paulo office in facilitating the deal.

Iveco Group, headquartered in Turin, employs approximately 33,000 people and operates 16 industrial sites and 22 research and development centres across its five brands: IVECO, FPT, IVECO BUS, HEULIEZ, and IVECO CAPITAL.

The transaction marks a significant shift in Iveco Group’s strategic focus, allowing it to concentrate on its commercial vehicles and related businesses following the separation of its defence division.