Hensoldt and Leonardo are part of an industry consortium developing a new defensive aids subsystem for the Eurofighter Typhoon. (Image: EuroDASS)
Leonardo announced on 3 January that it has formally completed its acquisition of a 25.1% stake in Hensoldt from US private equity firm Kohlberg Kravis & Roberts, paying a price of €606 million in cash.
The deal was unveiled in April 2021.
Leonardo is aiming to become a European leader in defence electronics under its ‘Be Tomorrow – Leonardo 2030 plan. As such, the Italian defence and aerospace conglomerate noted, the stake in Hensoldt will allow it ‘to establish a long-term strategic presence in the fast growing German defence market and to strengthen the long-standing partnership between the two companies through the definition of cooperation initiatives for the development of joint opportunities’ in the air, land and sea domains.
Hensoldt and Leonardo already cooperate on programmes such as Eurofighter Typhoon as members of the EuroDASS consortium.
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