John Cockerill S.A. signed an exclusive agreement to acquire Arquus from AB Volvo (publ) (OM:VOLV B) on January 15, 2024. In a separate agreement, Federal Holding and Investment Company (SFPIM), will acquire a 10.0% stake in John Cockerill Defense. For the year ended 2023, Arquus reported a sale of ?600 million.

The transaction is subject to subject to the fulfilment of customary conditions for this type of transaction, including the information and consultation of works councils and other regulatory approvals. On June 18, 2024, it was disclosed that the transaction is expected to close in the next month.