TML CV Holdings B.V., a subsidiary of Tata Motors, has reported provisional results from the reopening of its voluntary tender offer for all common shares of Iveco Group N.V. The offeror has now reached a shareholding of approximately 96.29% of Iveco Group’s common share capital, excluding treasury shares. The payment date for shares tendered during this period is set for November 13, 2026.
Tender Offer Update for Iveco Group N.V.
Tata Motors Limited, through its indirect wholly owned subsidiary TML CV Holdings B.V. (formerly TML Commercial Vehicles Limited), has announced the provisional results of the reopening of its voluntary totalitarian tender offer for all common shares of Iveco Group N.V. The company informed the exchanges on November 7, 2026, that TML CV Holdings B.V. has received these provisional results from BNP Paribas, the intermediary responsible for coordinating the offer.
Key Provisional Results
- Shares Tendered in Reopening: 18,309,029 common shares were tendered during the reopening of the terms, representing approximately 6.75% of the Issuer’s common share capital.
- Aggregate Shareholding: With these new acceptances, and considering shares already tendered, the Offeror has reached a provisional shareholding of approximately 96.29% of Iveco Group’s common share capital, net of treasury shares. This figure includes the 238,157,212 shares tendered during the initial acceptance period (approx. 87.81%) and 4,868,597 treasury shares (approx. 1.80%).
- Total Countervalue: The aggregate value for shares tendered during the reopening amounts to EUR 263,650,017.60.
- Payment Date: The payment for shares accepted during the reopening of the terms is scheduled for November 13, 2026.
Dutch Legal Squeeze-Out
Given the provisional results, which, if confirmed, would bring the Offeror’s aggregate shareholding to at least 95% of the Issuer’s issued and outstanding share capital, TML CV Holdings B.V. intends to commence the Dutch Legal Squeeze-Out procedure for the remaining outstanding common shares. This may be preceded by a demerger and share sale at the Offeror’s discretion. Borsa Italiana will suspend trading and/or delist the shares in accordance with regulations.
Offer Details
The offer price per common share is EUR 14.40 (cum dividend), comprising an initial price of EUR 14.10 plus an additional price of EUR 0.30. This offer is being conducted in compliance with relevant Italian laws and, where applicable, U.S. securities regulations.
Press Release Enclosed
A press release detailing these provisional results, along with its Italian version, is enclosed for further information. The content is self-explanatory.
Source: BSE
