12-05-2025
Spain's Indra seeks to buy Iveco's defence business, El Economista reports
MADRID, May 12 (Reuters) - Spanish defence company Indra ( opens new tab sent a non-binding offer for Italian group Iveco's defence business, newspaper El Economista reported on Monday, citing unidentified market sources.
Iveco's unit, which assembles armoured military vehicles, is worth about 1 billion euros ($1.12 billion), El Economista reported.
Indra and Iveco did not immediately respond to requests for comment.
Indra's bid follows another by Italian aerospace and defence firm Leonardo ( opens new tab and Germany's Rheinmetall ( opens new tab for Iveco's defence unit announced last week by Leonardo's Chief Executive Roberto Cingolani.
Indra, which is 28% owned by Spanish state-owned fund SEPI, is set to benefit from the government's plan to increase defence spending by more than 10 billion euros this year.
($1 = 0.8915 euros)
