Italy's CDP plans more takeovers in defence sector after T-Defence deal, sources say

By Giuseppe Fonte and Elvira Pollina

ROME, Aug 3 (Reuters) - Italy's state lender CDP plans to expand further in the country's defence sector and is studying two takeovers after clinching a deal last week to buy a majority stake in high-tech security firm T-Defence, sources familiar with the matter told Reuters.

CDP Equity, the investment arm of Cassa Depositi e Prestiti, will use T-Defence to strengthen the Italian defence supply chain and promote consolidation in the sector, the sources said, asking not to be named.

Although small in size, the acquisitions come at a time when European Union authorities are pushing to boost the bloc's defence capabilities and to ⁠help member states meet new, more ambitious NATO spending targets.

CDP Equity Chief Executive Fabio Barchiesi plans to complete soon the acquisition of a controlling stake in T-Defence and use the company to take control of two additional defence firms, the sources added, without providing further details.

Last Friday, the CDP Equity board approved the acquisition of an 85.5% stake in T-Defence from Tinexta group.

Tinexta had put T-Defence under management by a trust ahead of its sale, a condition the Italian government imposed to clear a takeover bid for the holding company by equity firms Advent and Nextalia.

Italy has golden powers allowing it to set terms for any deal affecting companies operating in strategic sectors such as defence.

T-Defence, which posted revenue of €41 million ($47.25 million) in 2025, is active in the design and development of advanced technology for the defence, space and national security sectors. 

CDP group plays a key role in keeping strategic assets in national hands and helping domestic firms expand within and outside Italy. Its equity portfolio includes energy group Eni, motorway operator Autostrade per l'Italia (ASPI) and shipbuilder Fincantieri.

CDP Equity last month invested around €1 billion to buy 23.5% of Angelini Pharma through a capital hike to help the group complete the acquisition of U.S. rare-disease drug maker Catalyst Pharmaceuticals, in a $4.1 billion deal.

($1 = 0.8678 euros)

(Reporting by Giuseppe Fonte in Rome and Elvira Pollina in MilanEditing by Keith Weir)