Deutz has cleared a major regulatory hurdle for its €1.6 billion acquisition of defense specialist FFG. The approval of the deal now depends on a shareholder vote scheduled for 24 August, which requires a three-quarters majority. The acquisition is set to transform Deutz into a defense contractor and accelerate its revenue growth strategy.
Company Information
Company
Deutz
Location
Cologne, North Rhine Westphalia, Germany
About
Deutz is a leading manufacturer of engines for various applications. Known for its innovative technology, the company has been in operation for over 150 years. Recently, Deutz is focusing on expanding into the defense sector through strategic acquisitions. The company aims to double its revenue by 2030.