The spotlights are turned on on the sale of the Leonardo's defense systems. As reported by some press agencies, the German Rheinmetall has formalized a non-binding offer to Leonardo for a minority stake in Oto Melara – manufacturer of guns, turrets, tanks and crawlers – valued between 190 and 210 million euros (equal to about 390-430 million for 100%) with the possibility in the future to buy an additional 2% or more to become majority shareholder. But neither company has yet confirmed or denied the news. Meanwhile, the title of the aerospace company registers the best performance on the FTSE Mib, currently moving around 2,45% at 10,46 euros per share, after fluctuating between 10,28 and 10,58 euros and reaching the highest price since February 2020.
Leonardo had already announced in December its intention to sell Oto Melara and Wass, which produces torpedoes, as part of a broader strategy aimed at focusing on helicopters, aircraft and defense electronics. The firm had added that the two units would have "better growth opportunities outside the group."
In the past she had also come forward for the division Fincantieri who had then abandoned the deal and knds, the alliance between the German Krauss-Maffei Wegmann and the French Nexter.
The Italian government has the last word
The Germans informed the Italian government, which however has not yet given its approval. The executive's ok remains the most complex knot to untie since the defense sector is protected by golden with which it can potentially block any operation in strategic sectors.
The operation would also involve the governments of Berlin and Paris and is due to the ongoing war between Russia and Ukraine and to the military development programs promoted by the European Union, such as the Main Ground Combat System (MGCS), aimed at achieving so-called "tank of the future".
Italy's inclusion in the program could give Leonardo the opportunity to offer its sensors and electronic defense systems for the new tanks.
