Tata Motors Takes Control of Iveco in €3.43 Billion Deal
Tata Motors acquired a stake in Italian commercial-vehicle maker Iveco for approximately €3.43 billion (₹36,387 crore), gaining control after settling its cash tender offer.
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05:03:20 PM UTC
SquawkNews
Tata Motors Limited and Iveco Group N.V. have jointly announced the completion of the initial settlement for the voluntary tender offer for all issued common shares of Iveco Group. Following this settlement, the offeror, TML CV Holdings B.V., now holds approximately 89.42% of Iveco Group's common share capital, net of treasury shares. As a result of this transaction, Iveco Group has officially become part of Tata Motors. The companies also noted that the acceptance period for the tender offer will be reopened for five trading days, from November 2 to November 6, 2026, to allow for further share tenders.
Tata Motors took control of Italian commercial-vehicle maker Iveco on Friday, acquiring an 89.42 per cent stake for approximately €3.43 billion (₹36,387 crore) after settling its cash tender offer. The acquisition gives India’s largest commercial-vehicle manufacturer control of a European business…