Rheinmetall’s planned acquisition of Iveco Group’s military truck division has been delayed due to holdups in Leonardo’s takeover of the company’s defense subsidiary, as reported by Reuters.
Leonardo recently entered into a binding agreement to acquire Iveco Defence Vehicles and the ASTRA truck unit for roughly €1.7 billion ($1.9 billion). Initially announced in 2025, the deal is projected to close in early 2026, pending regulatory clearances and the completion of asset separation.
Rheinmetall plans to move forward with acquiring the military truck business from Leonardo after the transaction is finalized. Although the company had expected to begin the process by the end of March, discussions remain on hold until Leonardo officially completes the purchase.
Iveco’s defense truck segment manufactures a wide range of military logistics and tactical vehicles, including Eurocargo and Modular Military Range platforms in multiple axle configurations, as well as heavy-duty ASTRA chassis designed for specialized operational roles.
The divestment forms part of a larger restructuring strategy, which also includes the proposed €3.8-billion ($4.3-billion) sale of Iveco’s civilian automotive operations to Tata Motors.
At present, Iveco is fulfilling several major contracts, including the supply of 860 tactical trucks to the Romanian Armed Forces under a broader 2,900-vehicle program initiated in 2019. Additionally, it is delivering 658 trucks to the Italian Army, bringing total deliveries under a 2024 framework agreement to over 2,000 units, with completion planned through 2039.
