Finance
Spain's Indra seeks to buy Iveco's defence business, El Economista reports
Published by Global Banking & Finance Review®
Posted on May 12, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 12, 2025
1 min readLast updated: January 23, 2026
Indra has proposed a non-binding offer to acquire Iveco's defence unit, valued at €1 billion, as Spain boosts its defence budget.
MADRID (Reuters) -Spanish defence company Indra 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 and Germany's Rheinmetall 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)
(Reporting by Inti Landauro and Mireia Merino, Editing by Louise Heavens)
Indra is seeking to buy the defence business of the Italian group Iveco.
Iveco's defence unit, which assembles armoured military vehicles, is valued at about 1 billion euros.
Indra's bid follows offers from Italian aerospace and defence firm Leonardo and Germany's Rheinmetall.
Indra is 28% owned by the Spanish state-owned fund SEPI.
The Spanish government plans to increase defence spending by more than 10 billion euros this year.
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