Prior to the sale, an out-of-court settlement was reached with Global Logistics Support GmbH (GLS). Under this agreement, GLS waives its rights to the 25 Leopard 1 tanks in question.
As the ownership issue has now been finally resolved, Rheinmetall Landsysteme GmbH was able to exercise its contractually agreed right of first refusal for the vehicles in question.
The transaction was commercially sound and was completed in strict compliance with all political and regulatory processes.
“The economically viable conclusion of the transaction is an important step for RUAG's future. We have now been able to completely close the warehouse in Italy and thus bring a complex and burdensome chapter to a close,” says Dr. Jürg Rötheli, Chairman of the Board of Directors of RUAG MRO Holding AG.