January 28, 2020 / 6:27 PM / a month ago

Italy's Leonardo boosts its helicopter business with Kopter acquisition

MILAN (Reuters) - Italian aerospace and defense group Leonardo (LDOF.MI) has signed a deal to buy Switzerland’s Kopter Group from Lynwood AG for $185 million, plus additional payments linked to targets, the company said on Tuesday.

In a statement Leonardo said Kopter’s new single-engine helicopter would be a “perfect fit” with its products, and that the acquisition offered the Italian group further opportunities to develop its technology.

The deal is expected to close by March, the company said. Consultancy firm EY and legal firm Gatti Pavesi Bianchi advised Leonardo on the deal, with legal firm HoganLovells advising Lynwood.

Reporting by Francesca Landini; Editing by Jan Harvey

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