Space
Leonardo Said to Drop BofA for Deutsche Bank on European Space
- Italian defense company swaps US adviser for European bank
- Leonardo studying satellite combination with Airbus and Thales
An Akeron MP anti-tank guided missile system on a Leonardo SpA aircraft.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Leonardo SpA, the Italian defense and aerospace company, has replaced Bank of America Corp. with Deutsche Bank AG to advise on talks to forge a new European space and satellite champion, according to people familiar with the matter.
Rome-based Leonardo switched to the German bank in recent weeks, after initially hiring the US firm, said the people, asking not to be identified because discussions are confidential. One reason for the pivot was business-related around a potential conflict related to another client, some of the people said.