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Italy's Leonardo, Germany's Hensoldt in joint venture talks

By Reuters   |   Feb 29, 2024 at 02:14 PM EST
Italy's Leonardo, Germany's Hensoldt in joint venture talks

ROME (Reuters) -Leonardo and Germany's Hensoldt are discussing a possible joint-venture, the chief executive of the Italian defence group said on Thursday.

"We are now restarting the analysis of a joint-venture. We are discussing with (Hensoldt's) new management what we can do together, the table is open," Roberto Cingolani told a post-results call.

He added that he had met the head of Hensoldt a few weeks ago and that he hoped to have some "news in the coming months".

Leonardo, a shareholder in the German military sensor maker, did not take part in its capital increase in December, diluting its previous 25% stake.

The decision fuelled speculation of a lack of interest in collaboration between the two groups.

Cingolani said Leonardo had never opposed the recapitalisation and the German government, which holds a 25% stake in Hensoldt, had appreciated the Italian group's transparent position.

(Reporting by Giulia Segreti, editing by Gavin Jones)

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