Financial details not disclosed (Il Sole 24 Ore Radiocor) - Rome, 20 Jun - The Italian defence and aerospace company Leonardo said it has agreed to sell its 98% stake in Italian bus manufacturer Industria Italiana Autobus to Seri Industrial.

Financial details of the transaction were not disclosed.

Invitalia will continue to hold a 2% stake in Industria Italiana Autobus.

Leonardo CEO Roberto Cingolani said the sale was in line with Leonardo's plans to focus on its core business.

The buyer was selected after a competitive process. "Seri was the sole bidder submitting an offer with certainty of execution in a timely manner to grant business continuity and growth, also through the implementation of an industrial plan focused on the transition towards green mobility," Leonardo said.

AAA-Hob

(RADIOCOR) 20-06-24 11:56:00 (0289) 5 NNNN