Leonardo S.p.a. (BIT:LDO) entered into a definitive agreement to acquire 25.1% stake in Hensoldt AG (XTRA:5UH) from Square Lux Holding II S.à r.l. for approximately €610 million on April 24, 2021. Under the terms, Leonardo will pay €23 per share. Upon closing of the transaction, Leonardo will propose two candidates to be nominated as members of the Supervisory Board of HENSOLDT. The closing of the transaction remains subject to customary conditions, including regulatory clearances in Germany and a selected number of countries, German merger control and foreign trade and is expected to take place in the second half of 2021. UBS (Italy) S.p.A and Deutsche Bank S.p.A. acted respectively as Lead Financial Advisor and Grimaldi e Clifford Chance acted as legal advisor to Leonardo. Thomas Krecek, Anselm Raddatz, Dominik Heßof, Philipp Klöckner, Marc Besen, Dimitri Slobodenjuk and Giuseppe De Palma of Clifford Chance advised Leonardo on the deal. Christian Schwandtner, Martin Ulbrich, Alf-Henrik Bischke, Dirk Uwer, Dirk Busch, Caspar Haarmann and Matthias Cloppenburg of Hengeler Mueller advised KKR, parent of Square Lux. BofA Securities, Inc. and JPMorgan Chase & Co. (NYSE:JPM) acted as financial advisors to KKR, parent of Square Lux.

Leonardo S.p.a. (BIT:LDO) completed the acquisition of 25.1% stake in Hensoldt AG (XTRA:5UH) from Square Lux Holding II S.à r.l. on January 3, 2022.