Turin, 3rd January 2025. Iveco Group N.V. (EXM: IVG) announces that today the full ownership of Magirus GmbH and its affiliates performing firefighting business (“MAGIRUS”) has been transferred to Mutares SE & Co. KGaA (ISIN: DE000A2NB650), as per the terms of the agreement described on 13th March 2024, subject to contractual price adjustments primarily reflecting MAGIRUS's actual business performance during 2024.
Following the agreement with Mutares, the Firefighting Business Unit has been classified as “Discontinued Operations” since the first quarter of 2024. One-off effects from the transaction are excluded from Iveco Group's adjusted metrics.
Mutares is a listed private equity holding company that acquires medium-sized companies in special situations which show significant operational improvement potential. Under its new ownership, MAGIRUS is entering into the next chapter in its long-standing history, enabling it to compete even more efficiently and effectively in its unique market. The brand has been serving firefighters and disaster responders around the world since 1864.
Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The seven brands are each a major force in its specific business: IVECO, a pioneering commercial vehicles brand that designs, manufactures, and markets heavy, medium, and light-duty trucks; FPT Industrial, a global leader in a vast array of advanced powertrain technologies in the agriculture, construction, marine, power generation, and commercial vehicles sectors; IVECO BUS and HEULIEZ, mass-transit and premium bus and coach brands; IDV, for highly specialised defence and civil protection equipment; ASTRA, a leader in large-scale heavy-duty quarry and construction vehicles; and IVECO CAPITAL, the financing arm which supports them all. As of 31st December 2023, Iveco Group employs more than 36,000 people around the world and has 20 industrial sites and 31 R&D centres. Further information is available on the Company's website www.ivecogroup.com
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