Fincantieri announces the closing of the acquisition of Leonardo S.p.A.'s Underwater Armaments & Systems ("UAS") business line through the purchase of the entire share capital of the newly established company WASS Submarine Systems S.r.l. ("WASS"), into which the UAS business line had been previously contributed.
The transaction reinforces Fincantieri Group's strategy focused on growth in the naval defence business and the development of the underwater domain, strengthening its position as a leading technology integrator in the dual-use sector.
As foreseen by the preliminary agreement signed with Leonardo on May 9, 2024, and in line with the terms disclosed on that date, Fincantieri has paid today 287 million euros, representing the fixed component of the acquisition price. The variable component, linked to the growth targets of the UAS business line in 2024, will be determined following the approval of UAS’s final results for the 2024 fiscal year, for a total Enterprise Value of UAS, including the fixed component paid today, of up to 415 million euros, subject to standard price adjustment mechanisms.