The transaction turns the Italian commercial vehicle maker into an indirect subsidiary, adding 16 industrial sites, 22 research centers, and 33,000 workers to the combined entity. Under the purchase terms, shares were acquired through a voluntary cash tender offer priced at 14.4 euros per common share. A brief reopening of the tender offer window is scheduled for November 2026, ahead of anticipated delisting from Italian stock exchanges.
Key points
Iveco will operate as an indirect subsidiary before its anticipated upcoming delisting fr…: Iveco will operate as an indirect subsidiary before its anticipated upcoming delisting from Italian exchanges.
Tata Sons Chairman N Chandrasekaran has assumed the role of Chairperson and Senior Non-Ex…: Tata Sons Chairman N Chandrasekaran has assumed the role of Chairperson and Senior Non-Executive Director at Iveco.
Iveco Chief Executive Officer Olof Persson will continue leading the commercial vehicle m…: Iveco Chief Executive Officer Olof Persson will continue leading the commercial vehicle maker alongside newly appointed board directors.
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New Delhi: Tata Motors and Italy-headquartered Iveco on Tuesday announced that the combined enterprise will be the world's fourth-largest commercial vehicle maker with a revenue of Rs 2.28 lakh crore (Euro 21 billion).
The Indian auto major acquired an 89.42 per cent stake in Iveco for nearly 3.43 billion euros post the initial settlement of its cash tender offer, even as the buyout continues.
The acquisition of Iveco, making it an indirect subsidiary of the Indian auto major, will be Tata Motors' biggest since it bought Jaguar Land Rover from Ford in 2008. Iveco Group employs 33,000 people and operates 16 industrial sites and 22 R&D centres.
The settlement follows the completion of the acceptance period of the voluntary tender offer, under which Tata Motors offered EUR 14.4 per share in cash for Iveco's common shares.
The acceptance period will reopen for five trading days from November 2 to November 6, 2026, allowing shareholders another opportunity to tender their shares. Settlement of shares tendered during this period will take place on November 13.
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