Iveco Defgence, the Spanish Indra also focuses on Italian military vehicles: competition for Leonardo grows

Many European defense groups are ready to climb the Carro di Iveco Defgence. According to rumors, At least five companies presented Iveco and Advisor Goldman Sachs non -binding offers To detect the division that factory vehicles for defense and for civil protection and closed 2024 with revenues for 1.1 billion euros.

The interest of the Spaniards of Indra

The last to come forward was the Spanish group Indra who, second El economisthe is considering acquiring Iveco’s company to strengthen in the field of European defense. IDV is among other things an important supplier of the Ministry of Defense of Madrid. It is not the first time that Indra has been combined with an Italian defense company: in the past there had been talk of an interest in the Iberian conglomerate of 4 billion in turnover also for the Cybersecurity company Cy4gatelisted in Piazza Affari.

The other companies competing for Idv

In the Iveco Defense Vehicles deal, however, Indra will have to face very fierce competition. In the game there are also the manufacturer of Franco -German armed tanks KNDS, the Czech CSG company, already owner of the Brescia weapons Perazzi, as well as – above all – the Italian -German consortium formed by Leonardo and Rheinmetall, whose tank the Iveco division is an important supplier. Among the contenders would also appear the Bain American fund which, however, appears in a more secluded position than industrial investors and could financially support the offer of one of the groups in the running in the future.

The price factor

The decisive factors of the match will in fact be two. On the one hand, the price. As filtered, Iveco would like to collect at least 1.5 billion from the sale of Idv and, consequently, all the contenders had to present non -binding offers at least equal to this threshold to be able to access the so -called Data Roomthat is, in order to analyze the numbers of the division and formulate a binding proposal. Some of them, such as CGS’s Czechs and Kwns’ Franco-Germans, would be willing to go even to two billion. Leonardo-Rheinmetall would instead be oriented on a lower figurearound 800 million euros but could go up to one billion.

The weight of the Golden Power

The auction for Idv will not be decided on the price because it will have to take into account not only the priorities of the seller group – which has the main shareholder in the holding of the Agnelli -Elkann Exor – but also of those of the government that could intervene with the Golden Power to prevent Idv operations contrary to the strategic interests of Italy. This factor that could instead favor the Leonardo-Rheinmetall consortium to which the maxi-scommess of 20-30 billion will be assigned to update the Italian fleet of tanks and armored vehicles.