The EU clears Leonardo’s nearly $2B acquisition of Iveco’s defense unit, including IDV and Astra, strengthening Europe’s land defense capabilities. The European Union has approved Leonardo S.p.A.’s nearly $2 billion acquisition of the defense division of Iveco Group, marking a significant consolidation in Europe’s land defense sector. The deal, first agreed in July, includes the transfer of Iveco’s military vehicle brands, Iveco Defence Vehicles (IDV) and Astra. The European Commission concluded that the acquisition would not raise competition concerns, citing the fragmented nature of the defense vehicle market across Europe. Regulators determined that sufficient competitors remain in the sector, ensuring continued innovation and fair pricing despite the consolidation. Leonardo, already a major player in aerospace, defense electronics, and security, is seeking to expand its footprint in land-based military systems. The addition of IDV and Astra strengthens its position in armored vehicles, logistics platforms, and specialized defense transport solutions. Analysts say the move aligns with broader European efforts to enhance defense self-suffici...