A move in the German defense market for Leonardo, which purchases a 25.1% stake in Hensoldt, a group active in defense electronics. Leonardo has entered into an agreement with Square Lux Holding II S.à rl, a company controlled by funds assisted by Kohlberg Kravis & Roberts & Co. LP, for the acquisition of a 25.1% stake in Hensoldt for 606 million euros or 23 euros per share.
Hensoldt is a leader in Germany in the field of sensors for defense and security applications, with an expanding portfolio in cyber security, data management and robotics. Following the finalization of the transaction, Leonardo will become the major shareholder of Hensoldt together with Kreditanstalt für Wiederaufbau (KfW), 80% owned by the Federal Republic of Germany. KfW agreed to acquire a 25.1% stake in Hensoldt in March 2021.
“We are excited about the investment in Hensoldt as a catalyst for creating a closer partnership that will further strengthen their respective positions in the expected growth defense electronics market. We believe this step will create value for our shareholders by bringing together complementary strengths to serve more customers and partners with the solutions they need, while preserving national technologies and capabilities. This investment also reflects the long-term vision regarding the importance of building cooperation in the European aerospace and defense industry and Leonardo’s determination to have an active role in its development “, commented Alessandro Profumo, CEO of Leonardo. .