Leonardo announced the conclusion of the transactions aimed at purchasing 988,475 Avio’s shares. Following the transactions, Leonardo increases its stake in Avio by 3.75%, reaching 29.63% of the share capital.
The transactions, carried out in the market, have been concluded on the 29th of May for a total price of ca. € 14 million.
The transaction is a further consolidation of Leonardo’s role as industrial partner in Avio and Leonardo’s positioning in the relevant, strategic and growing Space business, mainly in the launcher segment, also thanks to the significant Italian contribution to European collaboration programs.
Avio is a leading international group engaged in the construction and development of space launchers and solid and liquid propulsion systems for space travel. The experience and knowhow built up over more than 50 years puts Avio at the cutting edge of the space launcher sector, solid, liquid and cryogenic propulsion and tactical propulsion.
Avio operates in Italy, France and France Guyana with 5 facilities, employing approx. 1,000 highly-qualified personnel, of which approx. 30% involved in research and development.
Avio is a prime contractor for the Vega program and a sub-contractor for the Ariane program, both financed by the European Space Agency (“ESA”), placing Italy among the limited number of countries capable of producing a complete spacecraft.
Leonardo, a global high-technology company, is among the top ten world players in Aerospace, Defense and Security and Italy’s main industrial company.
Organized into five business divisions, Leonardo has a significant industrial presence in Italy, the United Kingdom, Poland and the USA, where it also operates through subsidiaries such as Leonardo DRS (defense electronics), and joint ventures and partnerships: ATR, MBDA, Telespazio, Thales Alenia Space and Avio.
Leonardo competes in the most important international markets by leveraging its areas of technological and product leadership (Helicopters, Aircraft, Aerostructures, Electronics, Cyber Security and Space).
Listed on the Milan Stock Exchange (LDO), in 2019 Leonardo recorded consolidated revenues of €13.8 billion and invested €1.5 billion in Research and Development.
The Group has been part of the Dow Jones Sustainability Index (DJSI) since 2010 and became Industry leader of Aerospace & Defense sector of DJSI in 2019.