Tata Motors to buy Italy co Iveco for 3.8 bln euros, to exclude defence ops
This story was originally published at 09:22 IST on 31 July 2025
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--Tata Motors board OKs acquiring 100% stake in Italy-based Iveco
--Tata Motors board OKs acquiring Iveco's non-defence business
--Tata Motors: Iveco stake buy expected to be completed by April 2026
--Tata Motors: To buy 271.22 mln shrs of Iveco through voluntary tender offer
--Tata Motors: To buy stake in Iveco for 14.1 euros per share
MUMBAI – Tata Motors Ltd. late Wednesday said it will fully acquire Italy-based commercial vehicle manufacturer Iveco Group N.V. for 3.8 billion euros ($4.3 billion). The acquisition will exclude Iveco's defence business, Tata Motors said in an exchange filing.
The deal, which will be executed at a cash consideration of 14.1 euros or $16.1 per tendered share, is expected to be completed by April, Tata Motors said. "The offer is subject to a minimum acceptance level of 80% of the shares tendered," the company said. The acquisition will strengthen and diversify Tata Motors' portfolio and provide a platform to compete globally. The offer will be made by TML CV Holdings Pte. Ltd., or a new limited liability company to be incorporated under Dutch law, and will be wholly-owned by Tata Motors, the company said.
In total, the company will buy 271.22 million shares of Iveco. The offer price is at a 22-25% premium to the volume-weighted average price of the Italian automaker's stock for the three months after discounting the value of the company's defence business from the shares. Shares of the company will be delisted from Italy's Euronext Milan exchange following the completion of the acquisition.
Iveco Group is a global automotive leader that designs, produces, and sells trucks, commercial vehicles, buses, and defence vehicles, in addition to a broad portfolio of powertrain applications. In 2023-24 (Apr-Mar), the company had reported a turnover of 15.29 billion euros ($17.47 billion), including the defence business. For the quarter ended March, Tata Motors had reported a consolidated net profit of INR 84.70 billion on revenue of INR 1.195 trillion. At 0916 IST, shares of Tata Motors were 2.1% down at INR 654.45 on the National Stock Exchange. End
US$1 = INR 87.73
Reported by Akash Mandal
Edited by Subhojit Sarkar
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