The Italian giant took a 25.1% stake in HENSOLDT AG, a German company specializing in state-of-the-art defense electronics and sensors.
🔴#PressRelease #Leonardo today completed the acquisition from Square Lux Holding II S.à r.l. of 25.1% of the shares in @hensoldt for a cash consideration of € 606 million. https://t.co/XxklTX3K7k pic.twitter.com/cXjS1wYAbA
— Leonardo (@Leonardo_live) January 3, 2022
According to Leonardo’s press release, yesterday Square Lux Holding II S.à r.l., a company controlled by funds under the advisement of Kohlberg Kravis & Roberts & Co. LP, acquired a 25.1% stake in HENSOLDT AG («HENSOLDT»), a leading German company in the field of sensors for defense and security applications, with an ever-expanding portfolio in sensors, data management, and robotics, for a consideration of EUR 606 million.
This transaction is an important step that contributes to achieving the strategic objective of gaining a leading position in the European defense electronics market, as defined in the «Be Tomorrow – Leonardo 2030» plan, and reflects Leonardo’s commitment to play an active role in the ongoing consolidation process, also in view of future cooperation programs in continental Europe.
This investment will further enable Leonardo to establish a long-term strategic presence in the fast-growing German defense market and strengthen the long-standing partnership between the two companies through the delineation of cooperation initiatives for the development of joint opportunities capable of meeting the most advanced requirements of national and international customers in the Air, Land and Naval domains, taking advantage of a strong degree of complementarity between the two companies in terms of geography, product portfolio, markets, customers and suppliers.
With this operation, Leonardo, with its consolidated industrial presence in Italy, UK, USA and Poland, opens a new strategic alliance with a leading industrial player in the Aerospace, Defense and Security sector in Germany, which will contribute to the sustainable growth of the respective industries at national level, while ensuring strategic autonomy in key technologies in order to make a concrete contribution to the competitiveness of the European industrial base.
