WASS to Fincantieri, it's now official 10/05/2024 | Editorial Team

On May 9, Leonardo and Fincantieri announced to have signed an agreement for Fincantieri to acquire the 'Underwater Armaments & Systems' (UAS) business line, formerly WASS (Whitehead Alenia Sistemi Subacquei), today part of Leonardo's Electronics Division and specialised in the development and production of underwater systems. In 2023, UAS revenues reached €160 million and EBITDA of €34 million. The agreement, signed for a 'base' figure of €300 million, can go up to a maximum value of €415 million if certain performance targets for the current year are achieved. In order to finance this acquisition, Fincantieri has approved a proxy proposal to increase its share capital by a maximum amount of €400 million. The official closing of the transaction between the two companies is scheduled for early 2025.

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