Deutz to acquire defence maker FFG for €1.6bn

Deutz is acquiring defence manufacturer FFG Flensburger Fahrzeugbau (military wheeled and tracked vehicles) for around €1.6bn — about €1.0bn in cash (largely debt-financed) plus about €0.6bn in new Deutz shares; the selling families become anchor shareholders with up to 29.9%. Closing is expected after an extraordinary (virtual) general meeting on 24 Aug 2026 and regulatory approvals between late 2026 and Q1 2027. FFG brings an order backlog of around €1.9bn according to the company. UPDATE (31 July 2026): Germany's Federal Cartel Office cleared the acquisition in phase 1; its president Andreas Mundt said the two companies' business areas do not overlap and the merger raises no competition concerns.