Tata Motors has successfully completed the initial settlement of its recommended tender offer for Iveco Group, acquiring an 89.42% equity stake. This strategic move makes Iveco Group an indirect subsidiary of Tata Motors. The settlement was executed at €14.4 per share. The acquisition is expected to create a more diversified global entity with enhanced capabilities in the automotive and mobility sectors.
Strategic Acquisition Completed
Tata Motors Limited, through its wholly-owned subsidiary TML CV Holdings B.V., has announced the completion of the initial settlement for its voluntary tender offer for Iveco Group N.V. The acquisition price was set at €14.4 per Common Share in cash, cum dividend.
Iveco Group Becomes Indirect Subsidiary
Following the settlement, TML CV Holdings B.V. now holds 238,157,212 Common Shares of Iveco Group. This represents approximately 89.42% of Iveco Group’s total common share capital, net of treasury shares. Consequently, Iveco Group has now become an indirect subsidiary of Tata Motors.
Deal Rationale and Impact
The acquisition is intended to bring together two businesses with highly complementary product portfolios and capabilities. The integration is expected to create a stronger, more diversified entity with a significant global presence in the commercial vehicle and mobility industries. Iveco Group, a global player with strong Italian heritage, employs 33,000 people and operates 16 industrial sites and 22 R&D centers.
Future Steps and Reopening of Terms
The Acceptance Period for the offer will be reopened for five trading days, from November 2, 2026, to November 6, 2026. Settlement for shares tendered during this reopening period will occur on November 13, 2026. Further details regarding post-offer steps, including the Voluntary Purchase Procedure and potential demergers, will be communicated by the Offeror.
Governance and Financials Update
In line with the settlement, new board compositions and committees for Iveco Group have been established. All Special Voting Shares have been repurchased. Additionally, the Q3 2026 financial results for Iveco Group will be released earlier, on November 3, 2026.
Source: BSE
